Johnson Manufacturing Has the Following Selected Information Available for the Year

question 52

Multiple Choice

Johnson Manufacturing has the following selected information available for the year:
$\begin{array}{lr} \text { Direct material purchased } &\$40000\\ \text { Direct material used } &45000\\ \text { Direct labour incurred } &75000\\ \text {Manufacturing overhead incurred } &50000\\ \text { Cost of goods manufactured} &100000\\\end{array}$

In addition,the cost of the finished goods inventory increased by $10 000 from the beginning to the end of the year.Cost of goods sold for the year is:

• A) $ 80 000
• B) $170 000
• C) $ 90 000
• D) $110 000

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Definitions:

Laboratory Experiments

Controlled tests or investigations conducted in a specialized environment where variables can be manipulated and outcomes measured precisely.

Partial Correlation

The correlation between two variables with the influence of a third variable statistically controlled for.

Statistically Controlling

This refers to the use of statistical techniques to control for or adjust the effect of confounding variables in research, ensuring a more accurate understanding of relationships.

Frequency Distribution

A summary of data showing the number or frequency of observations in each distinct category or interval.