Ink Technology's Work in Process Inventory Account Has a Beginning

question 7

Multiple Choice

Ink Technology's Work in Process Inventory account has a beginning balance of $50,000 and an ending balance of $40,000.Direct materials used are $70,000 and direct labor incurred totals $35,000.Cost of goods sold totals $135,000.Manufacturing overhead applied is $20,000.How much is cost of goods manufactured?

• A)$145,000
• B)$115,000
• C)$125,000
• D)$135,000

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Definitions:

Enter Box

An input field where users can input text or commands, typically found in software applications or on websites.

Live Preview

A feature in many software applications that allows users to see the effect of changes, such as formatting, in real-time before applying them.

Insert Pie

The action of adding a pie chart into a document or presentation to display data graphically in a circular format.

Doughnut Chart

A type of pie chart that has a circular cut out in the center, turning the pie into a doughnut shape, used to display data in a series of concentric circles.