The Following Information Is Available for the First Month of Operations

question 101

Multiple Choice

The following information is available for the first month of operations for Bluemoon, Inc.: $\begin{array}{|l|r|}\hline \text { Sales } & \$ 850,000 \\\hline \text { Gross profit } & 330,000 \\\hline \text { Indirect labor } & 35,000 \\\hline \text { Indirect materials } & 14,000 \\\hline \text { Other factory overhead } & 9,000 \\\hline \text { Materials purchased } & 360,000 \\\hline \text { Total manufacturing costs } & 670,000 \\\hline \text { Materials inventory, end of period } & 20,000 \\\hline\end{array}$ ? Based on the information provided for Bluemoon, Inc., calculate direct materials cost used in production.

• A) $326,000
• B) $340,000
• C) $360,000
• D) $346,000

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Definitions:

Sample Scores

Quantitative values or measurements obtained from a subset of a population for research or analysis purposes.

Representative

Something, such as a person or sample, that accurately reflects the larger group or whole it is intended to stand in for.

Sample Statistics

Numerical data that describe characteristics of a sample, a subset of the population being studied.

Population Parameters

Statistical measures that describe characteristics of a population, such as the mean (average), median, mode, and standard deviation.