In the Schedule of Cost of Goods Manufactured and Cost

question 303

Multiple Choice

In the Schedule of Cost of Goods Manufactured and Cost of Goods Sold, the cost of goods manufactured is computed according to which of the following equations?

• A) Cost of goods manufactured = Total manufacturing costs + Ending work in process inventory − Beginning work in process inventory
• B) Cost of goods manufactured = Total manufacturing costs + Beginning work in process inventory − Ending work in process inventory
• C) Cost of goods manufactured = Total manufacturing costs + Beginning finished goods inventory − Ending finished goods inventory
• D) Cost of goods manufactured = Total manufacturing costs + Ending finished goods inventory − Beginning finished goods inventory

---

Definitions:

Federal Unemployment Tax Act

A United States federal law that imposes a payroll tax on employers to fund state workforce agencies, who administer unemployment insurance and job training programs.

Unemployment Compensation

A state system, created by the Federal Unemployment Tax Act (FUTA), that provides unemployment compensation to qualified employees who lose their jobs.

Unemployment Insurance Fund

A governmental fund designed to provide financial assistance to unemployed workers, funded by contributions from employers and the government.

Wagner Act

A foundational piece of labor legislation in the United States that established the rights of employees to organize, engage in collective bargaining, and take collective action, including strikes.