The Following Information Has Been Provided by LeMaire Company

question 129

Multiple Choice

The following information has been provided by LeMaire Company:
• Direct labor: $50,000
• Direct materials used: $20,000
• Materials purchased: $27,000
• Cost of goods manufactured: $100,000
• Ending work in process: $16,000
• Corporate headquarters' property taxes: $6,000
• Manufacturing overhead: $39,000
The beginning work in process was:

• A) $23,000.
• B) $7,000.
• C) $9,000.
• D) $1,000.

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Definitions:

Period Costs

Expenses that are not directly tied to the production process and therefore are expensed in the period in which they incur, such as selling, general, and administrative expenses.