Fit Apparel Company Reports the Following Data for Its First

question 132

Multiple Choice

Fit Apparel Company reports the following data for its first year of operation. What is the cost of goods sold?

• A)$650,200
• B)$836,300
• C)$85,100
• D)$655,400

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Definitions:

External Market

The environment outside a business in which it operates, dealing with the supply, demand, and pricing of goods and services.

Variable Manufacturing Cost

Costs that vary directly with the level of production output, such as raw materials and direct labor.

Revenue Centre Manager

A manager responsible for generating income and overseeing the revenue generation activities of a particular business unit, without direct control over costs or investments.

Investment Centre Manager

A role in charge of a business unit that is responsible for its own revenues, expenses, and assets, and is evaluated on its return on investment.