Use the Following Information for Questions
in September, Smith

question 74

Multiple Choice

Use the following information for questions
In September, Smith Company had the following financial statement amounts related to producing 500 units:
$\begin{array}{ll}\text { Direct materials } & \$ 27,000 \\\text { Depreciation expense } &11,000\\\text { Sales revenue } & 95,000 \\\text { Direct labour } & 23,000 \\\text { Rent expense } & 25,000\end{array}$
-How much is the net profit, (loss) , for September?

• A)$45,000
• B)$9,000
• C)$68,000
• D)$20,000

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Definitions:

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company.

Desired Amount

The specific quantity of money or resources that an individual or organization aims to achieve or accumulate.

Management Support

Refers to the assistance and resources provided by a company's management to support the operations, strategies, and objectives of the business.

Actual Results

The real, as opposed to projected or forecasted, outcomes of financial activity within a specific period.