Reference:
the Following Data (In Thousands of Dollars) Have Been

question 52

Multiple Choice

Reference:
The following data (in thousands of dollars) have been taken from the accounting records of Karlana Corporation for the just completed year. $$\begin{array} { | l | r | } \hline \text { Sales } & \$ 910 \\\hline \text { Raw materials inventory, beginning } & \$ 80 \\\hline \text { Raw materials inventory, ending } & \$ 20 \\\hline \text { Purchases of raw materials } & \$ 100 \\\hline \text { Direct labour } & \$ 130 \\\hline \text { Manufacturing overhead } & \$ 200 \\\hline \text { Administrative expenses } & \$ 160 \\\hline \text { Selling expenses } & \$ 140 \\\hline \text { Work in process inventory, beginning } & \$ 40 \\\hline \text { Work in process inventory, ending } & \$ 10 \\\hline \text { Finished goods inventory, beginning } & \$ 130 \\\hline \text { Finished goods inventory, ending } & \$ 150 \\\hline\end{array}$$
-The cost of goods sold for the year (in thousands of dollars) was:

• A)$670.
• B)$650.
• C)$540.
• D)$500.

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Definitions:

Anxiety-Arousing

Pertaining to stimuli or situations that provoke a state of increased nervousness, fear, or unease.

Oedipus Complex

A psychoanalytic theory by Freud suggesting a child's unconscious desire for the opposite-sex parent and jealousy towards the same-sex parent.

Childhood

The period of life from birth to adolescence, characterized by growth, development, and learning.

Repression

A psychological defense mechanism where distressing thoughts and memories are unconsciously blocked from conscious awareness.