Jasper Ltd Reports the Following Cost Information for March What Is the Cost of Sales for March?
A) $76,500

question 110

Multiple Choice

Jasper Ltd reports the following cost information for March:
$$\begin{array} { | l | l | } \hline \text { Cost of goods manufactured } & \$ 74,800 \\\hline \text { Manufacturing overhead } & 19,000 \\\hline \text { Finished goods inventory, 1 March } & 4500 \\\hline \text { Finished goods inventory, 31 March } & 2800 \\\hline \text { Work in process inventory, 1 March } & 9300 \\\hline \text { Work in process inventory, 31 March } & 1200 \\\hline \text { Direct materials used } & 25,100 \\\hline\end{array}$$
What is the cost of sales for March?

• A) $76,500
• B) $79,300
• C) $73,100
• D) $3200

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Definitions:

Price

The anticipated financial cost, needed, or offered for a particular item or service.

Equivalent Variation

A measure of economic welfare change, quantifying the amount of money needed to bring a consumer to a utility level before a price change.

Utility Function

In economics, a mathematical representation that quantifies an individual's preference for certain goods or services, aiming to predict choice behaviors.

Earrings

Jewelry worn on the earlobe or through another part of the ear, typically as a form of personal adornment.