Bergeron Inc -Which of the Following Is the Cost of Goods Manufactured

question 97

Multiple Choice

Bergeron Inc. reported the following data for last year:
$\begin{array} { | l | r | } \hline \text { Work-in-process inventory, beginning } & \$ 100 \\\hline \text { Work-in-process inventory, ending } & \$ 150 \\\hline \text { Finished goods inventory, beginning } & \$ 180 \\\hline \text { Finished goods inventory, ending } & \$ 200 \\\hline \text { Direct labour cost } & \$ 300 \\\hline \text { Direct materials cost } & \$ 500 \\\hline \text { Manufacturing overhead cost } & \$ 400 \\\hline\end{array}$



-Which of the following is the cost of goods manufactured?

• A) $1,250.
• B) $1,200.
• C) $1,220.
• D) $1,150.

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Definitions:

Four-Firm Concentration Ratio

An economic metric that assesses the market power of the four largest firms in an industry, expressed as a percentage of total market sales.

Pure Competition

A market structure characterized by a large number of small firms selling identical products, with no single seller having a significant influence on market price.

Oligopoly

A market structure characterized by a small number of large firms dominating the market, leading to limited competition.

Mutually Cancelling Advertising

Mutually cancelling advertising refers to a situation where the competitive advertising efforts of firms negate each other's impact, leading to no significant change in market share.