At January 1, 2012, Feldstein Manufacturing Company Had a Beginning

question 129

Multiple Choice

At January 1, 2012, Feldstein Manufacturing Company had a beginning balance in Work in process of $80,000 and a beginning balance in Finished goods of $20,000. During the year, Feldstein incurred
Manufacturing costs of $350,000.
During the year, the following transactions occurred:
Job A-12, was completed for a total cost of $120,000 and was sold for $125,000.
Job A-13, was completed for a total cost of $200,000 and was sold for $210,000.
Job A-15, was completed for a total cost $60,000, but was not sold as of year-end.
-
What was the final balance in the Cost of goods sold account?

• A) $308,000 debit balance
• B) $332,000 debit balance
• C) $320,000 debit balance
• D) $12,000 credit balance

---

Definitions:

Standard Deviations

A measure in statistics that quantifies the amount of variation or dispersion of a set of data values, indicating how much the data differs from the mean.

IQ Test

A standardized assessment used to measure a person's cognitive abilities and potential in comparison to the general population.

Gifted

Possessing above-average intelligence or talent in one or more domains.

Standard Deviations

A measure of the amount of variation or dispersion of a set of values, indicating how much the values of a dataset deviate from the mean.