At the Beginning of 2015, Conway Manufacturing Had the Following

question 74

Multiple Choice

At the beginning of 2015, Conway Manufacturing had the following account balances: Following additional details are provided for the year: $\begin{array}{|l|l|}\hline\text { Direct materials placed in production } & \$ 80,000 \\\hline \text { Direct labor incurred } & 190,000 \\\hline \text { Manufacturing overhead incurred } & 300,000 \\\hline \text { Manufacturing overhead allocated to production } & 295,000 \\\hline \text { Cost of jobs completed and transferred } & 500,000 \\\hline \text { Total revenue } & 750,000 \\\hline \text { Cost of goods sold } & 440,000\\\hline\end{array}$ Calculate the gross profit will Conway report for the year 2015.

• A) $315,000
• B) $305,000
• C) $310,000
• D) $345,000

---

Definitions:

Functional Gametes

Mature sexual reproductive cells (sperm in males and ova in females) that are capable of fusing with another gamete to form a zygote.

Individual's Lifetime

The duration of existence of a living being from birth to death.

Gamete Production

The process where reproductive cells (gametes) are produced in the gonads (ovaries and testes) through meiosis, enabling sexual reproduction.

Neonate

A term referring to a newborn child, especially within the first 28 days after birth.