Red Tail Manufacturing,Inc The Inventory Account Balances as of January 1 Are Given

question 60

Multiple Choice

Red Tail Manufacturing,Inc.provided the following information for the year: $$\begin{array} { | l | r | } \hline \text { Purchases-Raw Materials } & \$ 91,000 \\\hline \text { Plant Utilities and Insurance } & 67,000 \\\hline \text { Indirect Materials Used } & 11,000 \\\hline \text { Indirect Labor } & 4,100 \\\hline \text { Direct Materials Used in Production } & 97,000 \\\hline \text { Direct Labor } & 117,000 \\\hline \text { Depreciation on Factory Plant and Equipment } & 7,000 \\\hline \text { Cost of Goods Manufactured } & 291,000 \\\hline \text { Cost of Goods Sold } & 290,000 \\\hline\end{array}$$
The inventory account balances as of January 1 are given below.
$$\begin{array} { | l | r | } \hline \text { Raw Materials Inventory } & \$ 46,000 \\\hline \text { Work-in-Progress Inventory } & 11,000 \\\hline \text { Finished Goods Inventory } & 304,600 \\\hline\end{array}$$
What is the ending balance in the Finished Goods Inventory?

• A) $304,600
• B) $303,600
• C) $305,600
• D) $595,600

---

Definitions:

Areas Of Expertise

Specialized knowledge or skills in a particular field or domain.

Team Composition

The structure of a team in terms of its members, their roles, skills, diversity, and how these elements combine to achieve common goals.

Skills And Abilities

The capabilities and competencies that enable an individual to perform tasks or activities effectively.

Psychological Phenomenon

An occurrence or event that is related to the mind or mental processes and how they influence behavior.