Kellems Corporation Manufactures One Product

question 2

Multiple Choice

Kellems Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs and any variances are closed directly to Cost of Goods Sold. The company has provided the following information: The company does not have any variable manufacturing overhead costs and it recorded the following variances during the year:
The adjusted Cost of Goods Sold after closing all of the variances to Cost of Goods Sold will be closest to:

• A) $380,222
• B) $344,818
• C) $362,520
• D) $472,562

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Definitions:

S-H Bond

Refers to a chemical bond between sulfur and hydrogen, characteristic of thiols or sulfur-containing organic compounds.

Polar Covalent

A type of chemical bond where a pair of electrons is unequally shared between two atoms, leading to a partial positive charge on one atom and a partial negative charge on the other.

Cl-Cl Bond

A covalent bond between two chlorine atoms, often found in molecular chlorine (Cl2).

Non-polar Covalent

A type of chemical bond where two atoms share a pair of electrons with each other equally, resulting in no charge separation across the bond.