Given the Following Information, Determine the Cost of Goods Manufactured

question 52

Multiple Choice

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

• A) $243,000
• B) $380,000
• C) $867,000
• D) $160,000

---

Definitions:

Carpals

The eight small bones forming the wrist that connect the hand to the forearm.

Tarsals

Bones constituting the part of the foot between the leg and the metatarsals, including the ankle bones and forming the structure of the heel and the back of the foot arch.

Foramen

is an opening, hole, or passage, often found in bones, through which nerves and blood vessels may pass.

Epicondyle

A protrusion on a bone above or on the condyle, often serving as a site for muscle attachment.