A Company Used $34,000 of Direct Materials,incurred $73,000 in Direct

question 105

Multiple Choice

A company used $34,000 of direct materials,incurred $73,000 in direct labour cost and $114,000 in manufacturing overhead costs during the period. If beginning and ending work in process inventories were $27,000 and $21,500 respectively,what is the cost of goods manufactured?

• A) $215,500
• B) $221,000
• C) $226,500
• D) $248,000

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Definitions:

Naval Research Laboratory

The United States Navy's corporate laboratory that conducts a broad program of scientific research, applied research, technological development, and prototyping.

Environmental Protection Agency

A U.S. federal agency responsible for creating and enforcing regulations that protect the environment and public health.

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The total call for goods and services within an economic system, set at a universal price level for a particular time slot.

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Expenditures by government entities on goods and services that contribute to a country's gross domestic product (GDP).