Rams Company Purchased $34,000 of Direct Materials and Incurred $9,600

question 132

Multiple Choice

Rams Company purchased $34,000 of direct materials and incurred $9,600 of direct labor costs during the year. Indirect labor amounted to $1,000, while indirect materials totaled $1,200. Other operating expenses pertaining to the factory included utilities of $1,280, maintenance of $1,840, supplies of $720, depreciation of $6,040, and property taxes of $1,160. The only inventory was $2,720 of finished goods at year end. The cost of goods manufactured is:

• A) $69,000
• B) $50,800
• C) $56,840
• D) $45,800

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Definitions:

Developmental Genetics

The study of how genetic mechanisms contribute to the process of organismal development, from fertilization to mature form.

Drosophila Melanogaster

A species of fly commonly used in genetic research, known for its quick life cycle and relatively simple genome, which makes it an ideal model organism.

Genetically Dissimilar

Genetically dissimilar indicates a difference in the genetic makeup or DNA sequence among organisms, leading to diversity within species.

Chimeras

Organisms containing cells from two or more different species, often created through genetic engineering.