Given the Following Information,determine the Cost of Goods Manufactured A) $281,500
B) $390,500
C) $377,500
D) $312,000

question 31

Multiple Choice

Given the following information,determine the cost of goods manufactured.
$$\begin{array} { | l | l | } \hline \text { Direct labour incurred } & \$ 61,000 \\\hline \text { Manufacturing overhead incurred } & 175,500 \\\hline \text { Direct materials used } & 154,000 \\\hline \text { Finished goods inventory, 1/1/2017 } & 199,000 \\\hline \text { Finished goods inventory, 31/12/2017 } & 222,000 \\\hline \text { Work in process inventory, 1/1/2017 } & 26,000 \\\hline \text { Work in process inventory, 31/12/2017 } & 109,000 \\\hline\end{array}$$

• A) $281,500
• B) $390,500
• C) $377,500
• D) $312,000

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Definitions:

Square-foot

A unit of area measurement equal to a square measuring one foot on each side, commonly used in real estate and architecture.

ABC

A refined costing method that determines the cost of activities without distortions and allocates costs based on activities that generate costs in specific products and services.

Products

Goods or services offered by a business or manufacturer to consumers for purchase.

Allocated Overhead

The process of distributing indirect costs to various departments, projects, or products based on a certain formula or method.