Reason Apparel Applied Overhead Totaling $140,000 During March How Much Is Cost of Goods Manufactured?
A)$138,000
B)$136,000
C)$140,000

question 132

Multiple Choice

Reason Apparel applied overhead totaling $140,000 during March.Inventories were as follows: $\begin{array} { l c c } & \text { Beginning } & \text { Ending } \\\text { Raw material } & \$ 15,000 & \$ 21,000 \\\text { Work in Process } & \$ 24,000 & \$ 26,000 \\\text { Finished Goods } & \$ 11,000 & \$ 15,000\end{array}$ How much is cost of goods manufactured?

---

Definitions:

Common Stock

Common stock represents shares in a company that entitle holders to vote at shareholder meetings and receive dividends, typically possessing residual ownership in the company.

Manufacturing Facilities

The physical plants, factories, and machinery used in the process of producing goods.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, leading to the net profit or loss.

Operating Activities

These involve the primary revenue-generating activities of an entity, such as cash flows from selling goods and services.