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Given the Following Information,determine the Cost of Goods Sold A) $504,500
B) $613,500
C) $604,000
D) $296,500

question 176

Multiple Choice

Given the following information,determine the cost of goods sold.  Direct Labor Incurred $61,000 Manufacturing Overhead Incurred 176,500 Direct Materials Used 154,000 Finished Goods Inventory, Jan. 1 198,000 Finished Goods Inventory, Dec. 31 98,500 Work-in-Process Inventory, Jan. 1 222,000 Work-in-Process Inventory, Dec. 31 109,000\begin{array} { | l | r | } \hline \text { Direct Labor Incurred } & \$ 61,000 \\\hline \text { Manufacturing Overhead Incurred } & 176,500 \\\hline \text { Direct Materials Used } & 154,000 \\\hline \text { Finished Goods Inventory, Jan. 1 } & 198,000 \\\hline \text { Finished Goods Inventory, Dec. 31 } & 98,500 \\\hline \text { Work-in-Process Inventory, Jan. 1 } & 222,000 \\\hline \text { Work-in-Process Inventory, Dec. 31 } & 109,000 \\\hline\end{array}


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