Malibu Corporation Provided the Following Information for the Year What Was the Amount of the Cost of Goods Manufactured

question 145

Multiple Choice

Malibu Corporation provided the following information for the year: $$\begin{array} { | l | r | } \hline \text { Beginning Balance - Work-in-Process Inventory } & \$ 26,000 \\\hline \text { Ending Balance-Work-in-Process Inventory } & 55,000 \\\hline \text { Beginning Balance - Raw Materials Inventory } & 81,000 \\\hline \text { Ending Balance-Raw Materials Inventory } & 59,000 \\\hline \text { Purchases - Raw Materials } & 360,000 \\\hline \text { Direct Labor } & 471,000 \\\hline \text { Indirect Labor } & 19,000 \\\hline \text { Depreciation on Factory Plant and Equipment } & 24,000 \\\hline \text { Plant Utilities and Insurance } & 268,000 \\\hline\end{array}$$ What was the amount of the cost of goods manufactured for the year?

• A)$1,363,000
• B)$1,164,000
• C)$1,135,000
• D)$1,193,000

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Definitions:

Peptide Bonds

Chemical bonds formed between amino acids during protein synthesis, linking the carboxyl group of one amino acid to the amino group of another.

Protocells

Simple, self-organized, prebiotic structures that mimic living cells, thought to be key in the origin of life.

Metabolic Reactions

Chemical reactions in living organisms that are necessary for the maintenance of the living state, including processes for assembly or breakdown of substances.

Molecule

The smallest unit of a chemical compound that can exist, consisting of two or more atoms bonded together.