Using $3,040,000 as the Cost of Goods Manufactured, Compute the Cost

question 140

Multiple Choice

Using $3,040,000 as the cost of goods manufactured, compute the cost of goods sold using the following information. $\begin{array}{lll}\text { Raw materials inventory, January 1 } & 20,000 \\\text { Raw materials inventory, December } 31 & 40,000 \\\text { Work in process, January 1 } & 18,000 \\\text { Work in process, December 31 } & 12,000 \\\text { Finished goods, January 1 } & 40,000 \\\text { Finished goods, December 31 } & 32,000\\\text { Raw materials purchases } & 1,700,000 \\\text { Direct labor } & 760,000 \\\text { Factory utilities } & 150,000 \\\text { Indirect labor } & 50,000 \\\text { Factory depreciation } & 400,000 \\\text { Operating expenses } & 420,000\end{array}$

• A)$3,046,000.
• B)$3,008,000.
• C)$3,032,000.
• D)$3,048,000.

---

Definitions:

Teasers

Short promotional pieces intended to arouse interest or curiosity, especially in upcoming content or products.

Sales Messages

Communications designed to persuade or inform potential customers about a product or service, aiming to influence purchasing decisions.

Email

A method of exchanging digital messages over the Internet, using specific protocols, between individuals or groups.

Communication Method

The means or process by which information is conveyed from one entity or group to another.