The Following Data (In Thousands of Dollars) Have Been Taken

question 25

Multiple Choice

The following data (in thousands of dollars) have been taken from the accounting records of Karlist Corporation for the just completed year.
$\begin{array} { | l | r | } \hline \text { Sales } & \$ 800 \\\hline \text { Raw materials inventory, beginning } & \$ 60 \\\hline \text { Raw materials inventory, ending } & \$ 70 \\\hline \text { Purchases of raw materials } & \$ 180 \\\hline \text { Direct labour } & \$ 100 \\\hline \text { Manufacturing overhead } & \$ 190 \\\hline \text { Administrative expenses } & \$ 110 \\\hline \text { Selling expenses } & \$ 150 \\\hline \text { Work-in-process inventory, beginning } & \$ 70 \\\hline \text { Work-in-process inventory, ending } & \$ 80 \\\hline \text { Finished goods inventory, beginning } & \$ 120 \\\hline \text { Finished goods inventory, ending } & \$ 160 \\\hline\end{array}$


-What was the cost of the raw materials used in production (in thousands of dollars) during the year?

• A) $240.
• B) $190.
• C) $170.
• D) $250.

---

Definitions:

Stalinist System

A political system characterized by centralized control, authoritarian leadership, and strict government regulation of society and the economy, similar to the regime of Joseph Stalin in the Soviet Union.

Production Goals

Targets set by businesses or organizations for the amount of goods or services to be produced within a specific time frame.

Social Benefits

Non-wage compensations provided to employees in addition to their normal wages or salaries. These can include health insurance, pension plans, and other welfare benefits.

Enterprise Union

An organization representing workers within a single company or enterprise rather than across multiple workplaces or sectors.