Selected Data Concerning the Past Year’s Operations of the Karl

question 87

Multiple Choice

Selected data concerning the past year’s operations of the Karl Enterprises are as follows:
$\begin{array}{lr}\text { Selling and administrative expenses } & \$ 75,000 \\\text { Direct materials used } & 265,000 \\\text { Direct labour (25,000 hours) } & 300,000 \\\text { Factory overhead application rate } & 16 \text { per DLH }\end{array}$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$$\text { Inventories }$
$\begin{array}{crr}&\text { Beginning}&\text { Ending}\\\text { Direct materials } & \$ 50,000 & \$ 45,000 \\\text { Work in process } & 75,000 & 90,000 \\\text { Finished goods } & 40,000 & 25,000\end{array}$
-Refer to the figure.What is the cost of goods sold?

• A)$565,000
• B)$950,000
• C)$965,000
• D)$980,000

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Definitions:

Corporate Crime

Illegal acts or omissions by a corporation or individuals acting on its behalf, which are detrimental to the public interest or the state.

Ethics Code

A set of guidelines designed to help professionals conduct business honestly and with integrity.

Hiring

The process of reviewing applications, interviewing candidates, and selecting an individual for employment.

Personal Value Formation

The process through which individuals develop their own set of moral standards and priorities that guide their behavior and decision-making.