Answer the Following Questions Using the Information Below:
Leslie Manufacturing

question 37

Multiple Choice

Answer the following questions using the information below:
Leslie Manufacturing reported the following:
$$\begin{array} { | l | r | } \hline\text { Revenue } & \$ 450,000 \\\hline \text { Beginning inventory of direct materials, January 1, 2015 } & 20,000 \\\hline \text { Purchases of direct materials } & 156,000 \\\hline \text { Ending inventory of direct materials, December 31, 2015 } & 18,000 \\\hline \text { Direct manufacturing labor } & 21,000 \\\hline \text { Indirect manufacturing costs } & 42,000 \\\hline \text { Beginning inventory of finished goods, January 1, 2015 } & 40,000 \\\hline \text { Cost of goods manufactured } & 114,000 \\\hline \text { Ending inventory of finished goods, December 31, 2015 } & 45,000 \\\hline \text { Operating costs } & 150,000 \\\hline\end{array}$$
-What is Leslie's cost of goods sold?

• A) $103,000
• B) $109,000
• C) $112,000
• D) $118,000

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Definitions:

GEO

Pertains to geographical information, often relating to satellite systems and global positioning technologies.

LEO

Low Earth Orbit, referring to a satellite system orbiting relatively close to Earth, used for telecommunications, weather, and observation.

MEO

Medium Earth Orbit, a region of space around the Earth above low Earth orbit (LEO) and below geostationary orbit (GEO), typically used for navigation and communication satellites.

Orbital Speed

The speed at which an object must travel to maintain its orbit around a celestial body, determined by the gravitational pull of the body and the distance from it.