Express Company Reports the Following Data for Its First Year

question 33

Multiple Choice

Express Company reports the following data for its first year of operation. $$\begin{array} { | l | r | } \hline \text { Cost of goods manufactured } & \$ 475,000 \\\hline \text { Work in process inventory, bepinging } & 0 \\\hline \text { Work in process inventory, ending } & 140,000 \\\hline \text { Direct materials used } & 110,000 \\\hline \text { Manufacturing overhead } & 185,000 \\\hline \text { Finished goods inventary, ending } & 101,000 \\\hline\end{array}$$
-What is the cost of goods sold?

• A)$475,000
• B)$374,000
• C)$770,000
• D)$514,000

---

Definitions:

President Eisenhower

Dwight D. Eisenhower, the 34th President of the United States, serving from 1953 to 1961, known for his leadership during World War II and the interstate highway system development.

Brown Decision

Refers to the landmark U.S. Supreme Court decision in Brown v. Board of Education of Topeka (1954), which declared state laws establishing separate public schools for black and white students to be unconstitutional.

Eighth-Grade Education

A level of education typically received by students around the age of 13 to 14 years old in the United States, considered basic education.

Fixed Incomes

A type of income that does not vary over time, typically associated with retirees or investments that pay a regular, unchanging amount.