Molina Company Has Beginning and Ending Work in Process Inventories

question 106

Multiple Choice

Molina Company has beginning and ending work in process inventories of $130,000 and $145,000 respectively. If total manufacturing costs are $620,000, what is the total cost of goods manufactured?

• A) $750,000.
• B) $765,000.
• C) $605,000.
• D) $635,000.

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Definitions:

Money Inflow

The total amount of money coming into a business, an economy, or an individual's finances from various sources.

Foreign Purchases

The buying of goods or services from another country, contributing to imports in the purchasing country's economy.

Current Account

A component of a country's balance of payments, reflecting the difference between its export and import of goods and services.

Account Surplus

A situation where the income or revenue in an account exceeds the expenditures or costs.