Given the Following Data What Is the Cost of Goods Sold?
A) $152,000
B)

question 177

Multiple Choice

Given the following data:?? $\begin{array}{lr}\text { Cost of materials used } & \$ 45,000 \\\text { Direct labor costs } & 48,000 \\\text { Factory overhead } & 39,000 \\\text { Work in process, beginning } & 28,000 \\\text { Work in process, ending } & 18,000 \\\text { Finished goods, beginning } & 28,000 \\\text { Finished goods, ending } & 18,000\end{array}$ What is the cost of goods sold?

• A) $152,000
• B) $142,000
• C) $10,000
• D) $128,000

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Definitions:

Production Function

A mathematical model that describes the relationship between input resources and output of goods or services in the production process.

Price of Capital

The cost of using capital for production or investment, often represented by interest rates or return on investment.

Manufacturing Plant

A large industrial building designed for the production of goods, using various processes and machinery, in a structured and efficient manner.

Total Cost

The full amount of expenses incurred by a firm in the production of goods or services, including both fixed and variable costs.