Use the Following Information for Questions
Caltreck Manufacturing Inc

question 47

Multiple Choice

Use the following information for questions
Caltreck Manufacturing Inc.'s accounting records reflect the following inventories:
$$\begin{array} { l c c c } & \underline{ \text { Dec. 31,2019 } }& \underline{\text { Dec. 31, 2020} } \\\text { Raw materials inventory } & \$ 100,000 & \$ 80,000 \\\text { Wark in process irventory } & 130,000 & 145,000 \\\text { Finished goods irventory } & 125,000 & 115,000\end{array}$$ During 2020, Caltreck purchased $950,000 of raw materials, incurred direct labour costs of $125,000, and incurred manufacturing overhead totalling $160,000.
-Assume Caltreck Manufacturing's cost of goods manufactured for 2020 amounted to $1,200,000.How much would it report as cost of goods sold for the year?

• A)$1,210,000
• B)$1,250,000
• C)$1,325,000
• D)$1,190,000

Comprehend the essence of strategic management and its impact on competitive advantage.

Understand Porter's five forces model and its application in evaluating industry attractiveness.

Recognize the components and importance of strategic planning in the context of organizational success.

Understand the characteristics of competitive advantage and the factors that contribute to sustaining it.

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Definitions:

Gang-Related Activities

Actions or behaviors that are associated with or carried out by organized groups often involved in criminal acts.

Rural And Suburban

Describes areas that are either less densely populated and agricultural (rural) or residential areas adjacent to urban cities (suburban).

Responsive Educators

Teachers or instructors who adapt their instructional strategies to meet the individual needs and responses of their students.

Families In Poverty

Households living below the income threshold which is considered necessary to meet basic needs.