The Following Information Was Provided by Wilson Company for the Year

question 70

Multiple Choice

The following information was provided by Wilson Company for the year just ended:
$\begin{array}{|l|l|}\hline \text { Beginning finished goods inventory } & \$ 150,750 \\\hline \text { Ending finished goods inventory } & \$ 140,475 \\\hline \text { Sales } & \$ 475,000 \\\hline \text { Gross margin } & \$ 150,000 \\\hline\end{array}$
What was the cost of goods manufactured for the year?

• A) $314,725.
• B) $335,275.
• C) $325,000.
• D) $464,725.

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Definitions:

Planned Effort

A deliberate and structured attempt to achieve a specific goal, often involving a series of actions or tasks.

Needs Assessment

The process of determining the gap between an organization's current state and its desired state to identify training or developmental needs.

Quality Standards

Preset criteria that outline the expectations for products or services to ensure they meet customer needs and regulatory requirements.

Person Analysis

An element of training needs assessment that evaluates individual employees’ performance to determine who needs training and what kind of training is needed.