Arturo Manufacturing Company Provided the Following Information for the Year

question 74

Multiple Choice

Arturo Manufacturing Company provided the following information for the year 2015: $$\begin{array} { | l | r | } \hline \text { Beginning Balance - Work-in-Process Inventory } & \$ 12,000 \\\hline \text { Ending Balance - Work-in-Process Inventory } & 28,000 \\\hline \text { Beginning Balance - Raw Materials Inventory } & 42,000 \\\hline \text { Ending Balance - Raw Materials Inventory } & 30,000 \\\hline \text { Purchases - Raw Materials } & 180,000 \\\hline \text { Direct Labor } & 235,000 \\\hline \text { Indirect Materials } & 23,500 \\\hline \text { Indirect Labor } & 9,500 \\\hline \text { Depreciation on Factory Plant \& Equipment } & 12,000 \\\hline \text { Plant Utilities \& Insurance } & 135,000 \\\hline\end{array}$$ How much is the cost of goods manufactured?

• A) $591,000
• B) $607,000
• C) $619,000
• D) $579,000

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Definitions:

Performance IQ

A measure of a person's non-verbal and spatial abilities as part of an overall intelligence assessment.

Wechsler Adult Intelligence Scale

A standardized test designed to measure intelligence and cognitive ability in adults and older adolescents.

Stanford-Binet Intelligence Scale

An individually administered intelligence test that was revised from the Binet-Simon Scale, used to assess human intelligence.

Mental Age

A measure of an individual's mental aptitude based on the average age at which normal individuals achieve a certain level of performance.