Nilson Company Gathered the Following Reconciling Information in Preparing Its

question 65

Multiple Choice

Nilson Company gathered the following reconciling information in preparing its August bank reconciliation: $\begin{array}{lr}\text { Cash balance per books, } 8 / 31 & \$ 21,000 \\\text { Deposits in transit } & 900 \\\text { Notes receivable and interest collected by bank } & 5,100 \\\text { Bank charge for check printing } & 120 \\\text { Outstanding checks } & 12,000 \\\text { NSF check } & 1,020\end{array}$ The adjusted cash balance per books on August 31 is

• A) $24,960.
• B) $24,060.
• C) $13,800.
• D) $14,760.

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Definitions:

Cost of Goods Manufactured

The total production cost of goods that have finished the manufacturing process within a specific period.

Manufactured Overhead

All indirect costs associated with the manufacturing process, such as utilities, maintenance, and factory rent.

Manufacturing Overhead

All indirect costs associated with the manufacturing process, including utilities, rent, and salaries of maintenance personnel.

Cost of Goods Manufactured

The cost of goods manufactured is the total cost of producing products during a specific period, including materials, labor, and overhead.