Harrison Company Reports the Following Cost Information for August

question 143

Multiple Choice

Harrison Company reports the following cost information for August: What is the amount of direct materials used by Harrison Company in August?

• A)$25,300
• B)$61,944
• C)$49,556
• D)$63,900

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Definitions:

Inventory Turnover

A financial metric that measures the rate at which a company sells and replaces its stock of goods over a period, indicating efficiency in sales and inventory management.

Interest Earned

The income received from investing in interest-bearing financial instruments or accounts.

Net Income

The total profit or loss of a business after all expenses, taxes, and costs have been subtracted from total revenue.

Interest Expense

The cost incurred by an entity for borrowed funds over a specific period, including loans, bonds, or lines of credit.