Vermont State,Inc

question 237

Multiple Choice

Vermont State,Inc.used $153,000 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 $53,000.Other operating costs pertaining to the factory included utilities of $135,500; maintenance of $70,260; repairs of $53,400; depreciation of $133,000; and property taxes of $74,640.There was no beginning or ending finished goods inventory,but Work-in-Process inventory began the year with a $5000 balance and ended the year with a $7400 balance. How much is the cost of goods manufactured?

• A) $12,400
• B) $1,003,400
• C) $1,010,800
• D) $1,005,800

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Definitions:

Trademark Protected

Refers to brands, logos, slogans, and other distinctive signs that have legal protection to prevent unauthorized use by others.

Nonfunctional

Describing an item or system that does not operate or function as intended or expected.

Shape of a Product

The physical contours, dimensions, and appearance of an item as it relates to its design, functionality, and aesthetic appeal.

Gift Causa Mortis

A gift made by an individual in contemplation of imminent death, which can be revoked if the person survives.