Reference: 14_02
the Following Information Is Available for Talking Toys

question 81

Multiple Choice

Reference: 14_02
The following information is available for Talking Toys, Inc. for the current year:
$\begin{array}{lr}\text { Direct materials used } & \$ 12,500 \\\text { Goods in process, January 1 } & 50,000 \\\text { Goods in process, December 31 } & 37,000 \\\text { Total Factory overhead } & 5,500 \\\text { Direct labor used } & 26,500\end{array}$
-The total manufacturing costs incurred during the year were:

• A) $13,000
• B) $44,500
• C) $57,500
• D) $94,500
• E) $89,000

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Definitions:

Marginal Cost

The price of making one more unit of a certain product.

Government Regulation

Rules or directives made and maintained by a government to regulate behavior or enforce standards in various fields.

Centrally Planned Economies

Economic systems in which the government or a central body makes all decisions about the production and distribution of goods and services.

Environmental Quality

The state of the physical, chemical, and biological conditions of the environment based on various indicators.