Use the Following Information to Compute the Cost of Goods

question 133

Multiple Choice

Use the following information to compute the cost of goods manufactured. Assume that all raw materials used were traceable to specific units of product. $$\begin{array} { | l | r | } \hline \text { Beginning raw materials } & \$ 5,500 \\\hline \text { Ending raw materials } & 4,000 \\\hline \text { Direct labor } & 12,250 \\\hline \text { Raw material purchases } & 7,400 \\\hline \text { Depreciation on factory equipment } & 6,500 \\\hline \text { Factory repairs and maintenance } & 3,300 \\\hline \text { Beginning finished goods inventory } & 10,200 \\\hline \text { Ending finished goods inventory } & 8,900 \\\hline \text { Beginning work in process inventory } & 5,700 \\\hline \text { Ending work in process inventory } & 6,300 \\\hline\end{array}$$

• A) $36,650.
• B) $30,950.
• C) $30,650.
• D) $30,350.
• E) $31,650.

Understand the definitions and roles of holders in due course, personal defenses, and real defenses in negotiable instruments law.

Identify the criteria that define a holder in due course.

Differentiate between real and personal defenses against holders and holders in due course.

Analyze legal outcomes based on the status of holders in due course and the applicability of defenses.