Given the Following Data for Mehring Company, Compute (A) Total

question 130

Short Answer

Given the following data for Mehring Company, compute (A) total manufacturing costs and (B) cost of goods manufactured: $\begin{array}{lrlr}\text { Direct materials used } & \$ 230,000 & \text { Beginning work in process } & \$ 30,000 \\\text { Direct labor } & 150,000 & \text { Ending work in process } & 15,000 \\\text { Manufacturing overhead } & 255,000 & \text { Beginning finished goods } & 38,000 \\\text { Operating expenses } & 263,000 & \text { Ending finished qoods } & 23,000\end{array}$

$\begin{array}{lll}&(A)&(B)\\\text { a. } & \$ 620,000 & \$ 650,000 \\\text { b. } & \$ 635,000 & \$ 620,000 \\\text { c. } & \$ 635,000 & \$ 650,000 \\\text { d. } & \$ 650,000 & \$ 665,000\end{array}$

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Definitions:

Prenuptial Agreement

A contract entered into prior to marriage specifying the distribution of assets in the event of divorce or death.

Ownership Rights

The legal rights to use, control, and dispose of property or assets.

Post Hoc Ergo Propter Hoc

A logical fallacy that occurs when it is assumed that because one event followed another, the first event caused the second.

Equitable Theory

A branch of law that is concerned with fairness and justice, often applied when traditional legal remedies are inadequate.