Reference:
Boardman Company Reported the Following Data for the Month

question 99

Multiple Choice

Reference:
Boardman Company reported the following data for the month of January: $$\begin{array}{l}\begin{array} { | l | l | l | } \hline \text { Inventories: } & 1 / 1 & 1 / 31 \\\hline \text { Raw materials } & \$ 32,000 & \$ 31,000 \\\hline \text { Work in process } & \$ 18,000 & \$ 12,000 \\\hline \text { Finished goods } & \$ 30,000 & \$ 35,000 \\\hline\end{array}\\\begin{array} { | l | r | } \hline \text { Additional information: } & \\\hline \text { Sales revenue } & \$ 210,000 \\\hline \text { Direct labour costs } & 40,000 \\\hline \text { Manufacturing overhead costs } & 70,000 \\\hline \text { Selling expenses } & 25,000 \\\hline \text { Administrative expenses } & 35,000 \\\hline\end{array}\end{array}$$
-If raw materials costing $35,000 were purchased during January, the total manufacturing costs for the month was?

• A)$145,000.
• B)$146,000.
• C)$151,000.
• D)$144,000.

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Definitions:

Adjusted Gross Income

A measure of income calculated from your gross income and used to determine how much of your income is taxable after adjustments are made for deductions or exemptions.

Miscellaneous Deductions

Refers to various deductions that taxpayers can claim to reduce taxable income, not fitting into standard deduction categories, often subject to certain thresholds.

Investment Counsel

Professional guidance provided to individuals or institutions on building and managing investment portfolios.

Form 4684

A tax form used by the IRS for reporting losses or thefts of personal, income-producing, or business property.