Leak Enterprises LLC Recorded the Following Transactions for the Just

question 47

Multiple Choice

Leak Enterprises LLC recorded the following transactions for the just completed month. The company had no beginning inventories.
(1) Raw materials purchased for cash, $96,000
(2) Direct materials requisitioned for use in production, $69,000
(3) Indirect materials requisitioned for use in production, $22,000
(4) Direct labor wages incurred and paid, $129,000
(5) Indirect labor wages incurred and paid, $16,000
(6) Additional manufacturing overhead costs incurred and paid, $121,000
(7) Manufacturing overhead costs applied to jobs, $163,000
(8) All of the jobs in process were completed.
(9) All of the completed jobs were shipped to customers.
(10) Any underapplied or overapplied overhead for the period was closed out to Cost of Goods Sold.
Enter the transactions in the T-accounts below and then answer the following questions.

-The adjusted cost of goods sold for the month is:

• A) $335,000
• B) $361,000
• C) $357,000
• D) $365,000

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Definitions:

EPS Growth Rate

A measure of how the company's earnings per share (EPS) has grown over a specific period, indicating its profitability trends.

Rate Of Return

The financial escalation or contraction in value of an investment during a chosen duration, displayed as a percentage of the investment’s starting stake.

Stock Price

The cost of purchasing a single share of a company's stock, determined by the supply and demand for it in the market.

EPS Growth Rate

The yearly rate at which a firm's earnings per share (EPS) increases or is expected to increase.