The Following Data Relates to the Solar Products Company for the Fiscal

question 54

Essay

The following data relates to the Solar Products Company for the fiscal year ended December 31: $$\begin{array} { l r } \text { Direct Materials Inventory, Beginning } & \$ 60 \\\text { Direct Materials Inventory, Ending } & 40 \\\text { Direct Materials Purchases } & 290 \\\text { Direct Labor } & 33 \\\text { Finished Goods Inventory, Beginning } & 90 \\\text { Finished Goods Inventory, Ending } & 100 \\\text { Factory overhead } & 155 \\\text { Work-in-Process Inventory, Beginning } & 80 \\\text { Work-in-Process Inventory, Ending } & 60\end{array}$$ Required:
Prepare a statement of cost of goods manufactured and cost of goods sold.

Recognize the methods and importance of behavior modification techniques.

Differentiate between concepts of punishment, extinction, and negative reinforcement.

Grasp the concept of superstitious behavior in the context of reinforcement schedules.

Understand the application and effectiveness of token economies in modifying behavior.

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Definitions:

Retail Credit

An arrangement where retailers offer direct credit facilities to their customers for the purchase of goods and services.

Work-in-progress

Refers to the intermediate goods or partially finished goods that are in the process of production.

Raw Materials

Basic materials or substances used in the initial stages of manufacturing or production.

Finished Goods

Items that are finished being made and can now be purchased by consumers.