Calculate the Cost of Goods Manufactured Using the Following A) $772,600

question 149

Multiple Choice

Calculate the cost of goods manufactured using the following
information: $\begin{array} { l c } \text { Direct materials } & \$ 298,500 \\\text { Direct labor } & 132,000 \\\text { Factory overhead costs } & 264,000 \\\text { General and administrative expenses } & 85,500 \\\text { Selling expenses } & 48,800 \\\text { Work in Process inventory, January } & 1118,500 \\\text { Work in Process inventory, December 31 } & 125,900 \\\text { Finished goods inventory, January 1 } & 232,100 \\\text { Finished goods inventory, December 31 } & 238,700\end{array}$

• A) $772,600.
• B) $701,900.
• C) $680,500.
• D) $687,100.
• E) $674,600.

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Definitions:

Taxes

Compulsory financial charges or some other types of levy imposed on a taxpayer by a governmental organization in order to fund various public expenditures.

International Pricing Strategy

A set of pricing approaches used by companies in international markets, considering factors like costs, demand, competition, and economic conditions in various countries.

Fair Prices

Pricing that is considered just, reasonable, and beneficial for both the buyer and seller in a transaction.

Price Elasticity

A measure of how much the quantity demanded of a good changes in response to a change in its price.