South State,Inc

question 122

Multiple Choice

South State,Inc.used $150,000 of direct materials and incurred $63,000 of direct labor costs during the year.Indirect labor amounted to $270,000,while indirect materials used totaled $52,500.Other operating costs pertaining to the factory included utilities of $133,500; maintenance of $74,880; repairs of $53,100; depreciation of $131,000; and property taxes of $74,120.There was no beginning or ending finished goods inventory,but Work-in-Process inventory began the year with a $5,600 balance and ended the year with a $7,500 balance. How much is the cost of goods manufactured?

• A) $13,100
• B) $1,000,200
• C) $1,007,700
• D) $1,002,100

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Definitions:

Norm of Simpatico

A social norm prioritizing harmonious relationships and congeniality among individuals and groups.

Collectivistic

Referring to cultures or societies that prioritize the needs and goals of the group over individual desires or achievements.

Diffusion of Responsibility

A socio-psychological phenomenon whereby a person is less likely to take responsibility for action or inaction when others are present.

Urban Apathy

A state of indifference and lack of concern among city dwellers towards their community and surroundings, often attributed to overstimulation and perceived powerlessness.