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The Following Account Balances at the Beginning of January Were

question 112

Multiple Choice

The following account balances at the beginning of January were selected from the general ledger of Sailor Manufacturing Company: Work in process inventory $0
Raw materials inventory $26,000
Finished goods inventory $46,000
Additional data:
1) Actual manufacturing overhead for January amounted to $62,000.
2) Total direct labor cost for January was $57,000.
3) The predetermined manufacturing overhead rate is based on direct labor cost.The budget for the year called for $300,000 of direct labor cost and $360,000 of manufacturing overhead costs.
4) The only job unfinished on January 31 was Job No.1002,for which total direct labor charges were $6,300 (800 direct labor hours) and total direct material charges were $12,000.
5) Cost of direct materials placed in production during January totaled $101,000.There were no indirect material requisitions during January.
6) January 31 balance in raw materials inventory was $32,000.
7) Finished goods inventory balance on January 31 was $34,500.
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What is the cost of goods sold for January?

Definitions:

Collectivist Cultures

Societies that prioritize the group over individual desires or identities, emphasizing family and community cohesion.

Individualist Cultures

Societies that prioritize the needs and rights of the individual over the group, often emphasizing personal achievement and independence.

Signs Of Humility

Behaviors or attitudes that show a modest or low view of one's own importance; often characterized by a lack of ego.

Defer To Others

The act of submitting or yielding to the judgment, opinion, or preference of another individual or group.