Given the Following Information, Determine the Cost of Goods Manufactured

question 161

Multiple Choice

Given the following information, determine the cost of goods manufactured. $$\begin{array} { | l | r | } \hline \text { Direct Labor Incurred } & \$ 63,000 \\\hline \text { Manufacturing Overhead Incurred } & 179,500 \\\hline \text { Direct Materials Used } & 150,000 \\\hline \text { Finished Goods Inventory, 1/1/2015 } & 197,500 \\\hline \text { Finished Goods Inventory, } 12 / 31 / 2015 & 221,000 \\\hline \text { Work-in-Process Inventory, } 1 / 1 / 2015 & 96,500 \\\hline \text { Work-in-Process Inventory, 12/31/2015 } & 109,000 \\\hline\end{array}$$

• A) $243,000
• B) $380,000
• C) $867,000
• D) $160,000

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Definitions:

Behaviourist Theory

A theory suggesting that behavior is learned and shaped through interaction with the environment, emphasizing the role of external stimuli and responses.

Nativist Theory

The idea that certain skills or abilities are 'native' or hard-wired into the brain at birth.

Telegraphic Speech

Short, simple sentences typical of early child language development, resembling telegrams, often consisting only of essential words.

Overregularization

A language learning process in which children apply general grammatical rules too widely, often leading to grammatical errors.