The Following Table Summarizes the Beginning and Ending Inventories of Ariel

question 17

Essay

The following table summarizes the beginning and ending inventories of Ariel Co. for the month of October: $$\begin{array} { l r r } & \text { Sept. 30 } & \text { Oct. 31 } \\\text { Raw materials } & \$ 29,700 & \$ 31,000 \\\text { Work-in-process } & 65,800 & 61,000 \\\text { Finished process } & 52,700 & 46,200\end{array}$$ Raw materials purchased during the month of October totaled $112,300. Direct labor costs incurred totaled $234,800 for the month. Actual and applied manufacturing overhead costs for October totaled $145,100 and $149,400, respectively.
(a) Calculate the cost of goods manufactured for October.
(b) Calculate the cost of goods sold for October (Ignore under/overapplied overhead).
(c) Given the fact that 25,000 units were produced, what is the cost per unit for October?

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Definitions:

Reliability

The likelihood that a particular measure would produce the same results if the measure were repeated.

Indicator Variable

A variable in statistical modeling that assigns a value of 0 or 1 to indicate the non-presence or presence of a specific condition or attribute.

Social Mobility

The movement of individuals, families, or groups through a system of social hierarchy or stratification, which can be upward or downward.

Well-Being

A state of being comfortable, healthy, or happy, often considered holistically including physical, psychological, and social aspects.