-Assuming That Cost of Goods Sold for January Was $124,000,what

question 82

Multiple Choice

$\begin{array}{l}\text { Boardman Company reported the following data for the month of January: }\\\begin{array} { | l | r | r | } \hline \text { Inventories: } & \mathbf { 1 } / \mathbf { 1 } & \mathbf { 1 / 3 1 } \\\hline \text { Raw materials } & \$ 32,000 & \$ 31,000 \\\hline \text { Work in process } & \$ 18,000 & \$ 12,000 \\\hline \text { Finished goods } & \$ 30,000 & \$ 35,000 \\\hline\end{array}\end{array}$
$\begin{array} { | l | r | } \hline \text { Additional information: } & \\\hline \text { Sales revenue } & \$ 210,000 \\\hline \text { Direct labour costs } & \$ 40,000 \\\hline \text { Manufacturing overhead costs } & \$ 70,000 \\\hline \text { Selling expenses } & \$ 25,000 \\\hline \text { Administrative expenses } & \$ 35,000 \\\hline\end{array}$
-Assuming that cost of goods sold for January was $124,000,what was the net income for January?

• A) $61,000.
• B) $26,000.
• C) $51,000.
• D) $25,000.

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Definitions:

Self-Contentedness

A state of being satisfied with one's own situation, abilities, or characteristics without longing for more.

Self-Centeredness

Characterizes an attitude or behavior in which a person's thoughts and concerns are predominantly focused on oneself, often ignoring the needs or feelings of others.

Productivity

The measure of efficiency in producing goods and services, often quantified as the amount of output per unit of input.

Ego Integrity

A term from Erikson's theory of psychosocial development describing a late-life stage where individuals achieve a sense of acceptance of their own life, leading to feelings of fulfillment and wisdom.