Woodcarving Co.incurred the Following Costs During 2010

question 58

Multiple Choice

Woodcarving Co.incurred the following costs during 2010:
What was the amount of direct materials and direct labor used for the year?

• A)A
• B)B
• C)C
• D)D = Labor + $315,000 = $460,000;Labor = $145,000.Materials + $145,000 = $390,000 = Prime Costs.Materials = $245,000

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Definitions:

Prime Rate

The interest rate that commercial banks charge their best customers (usually large corporations) for short-term loans.