Given the Following Data: ​

question 64

Multiple Choice

Given the following data: ​
​
Cost of materials used $45,000
Direct labor costs 48,000
Factory overhead 39,000
Work in process,beginning 28,000
Work in process,ending 18,000
Finished goods,beginning 28,000
Finished goods,ending 18,000
What is cost of goods sold?

• A) $152,000
• B) $142,000
• C) $10,000
• D) $128,000

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Definitions:

Attainable Combination

An attainable combination is a set of goods or services that can be produced or provided with the available resources and technology, without overextending production capabilities.

Economy Will Produce

The total amount of goods and services that an economy is capable of producing at a given time and level of resources.

Efficient Combination

The optimal use or allocation of resources to achieve the best possible outcome or production level.

Economy Will Produce

Refers to the total output of goods and services that an economy generates over a specific time frame.