Luebke Inc

question 138

Multiple Choice

Luebke Inc.has provided the following data for the month of November.The balance in the Finished Goods inventory account at the beginning of the month was $52,000 and at the end of the month was $30,000.The cost of goods manufactured for the month was $212,000.The actual manufacturing overhead cost incurred was $55,000 and the manufacturing overhead cost applied to Work in Process was $58,000.The company closes out any underapplied or overapplied manufacturing overhead to cost of goods sold.The adjusted cost of goods sold that would appear on the income statement for November is:

• A) $231,000
• B) $190,000
• C) $234,000
• D) $212,000

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Definitions:

Abelam Culture

A society located in the East Sepik Province of Papua New Guinea, known for their elaborate yam festivals and impressive ceremonial houses called haus tambarans.

Yam Cultivation

The agricultural practice of growing yams, a type of tuber that is a staple food in many parts of the world, particularly in Africa and the Pacific.

Trobriand Islanders

The indigenous people of the Trobriand Islands, part of Papua New Guinea, known for their unique matrilineal society and Kula ring exchange system.

Canoe Prow

The forward-most part of a canoe, often intricately decorated in indigenous cultures, and designed for both functional steering and ceremonial or symbolic purposes.