Assume the Following Information: Direct Materials Used

question 9

Multiple Choice

Assume the following information: Direct materials used
£ 90,000
Direct labour
130,000
Factory overhead
150,000
Beginning work-in-progress inventory
15,000
Beginning finished goods inventory
20,000
Ending work-in-progress inventory
42,000
Selling and administrative expenses
37,500
What was the cost of goods manufactured during the year?

• A) £370,000
• B) £365,000
• C) £343,000
• D) £333,000

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Definitions:

Canister

A cylindrical container for holding and dispensing various substances, often under pressure.

Cyanocobalamin IM

An intramuscular injection form of vitamin B12, used to treat or prevent B12 deficiency.

Mcg/mL

A unit of measurement for concentration, indicating micrograms of a substance per milliliter of liquid.

Dextrose IV

Intravenous infusion of dextrose, a form of glucose, used to provide nutritional support and manage low blood sugar levels in patients.