Given the Following Information, Determine the Cost of Goods Sold

question 36

Multiple Choice

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

• A) $380,000
• B) $1,016,500
• C) $356,500
• D) $414,000

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Definitions:

Rotator Cuff

A group of muscles and tendons that surround the shoulder joint, keeping the head of your upper arm bone firmly within the shallow socket of the shoulder.

Reconstructive

Pertaining to surgery aimed at restoring the appearance or function of body parts damaged by trauma, disease, or congenital defects.

Cosmetic

Relating to treatments or products used to enhance or alter the appearance of the body, especially for beauty purposes.

Ablative

Describes treatments aimed at removing or destroying tissue, often used in the context of surgical procedures or cancer therapies.