Use the Following Data to Determine the Cost of Goods

question 174

Multiple Choice

Use the following data to determine the cost of goods manufactured:
$\begin{array}{lr}\text { Beginning finished goods inventory } & \$ 10,800 \\\text { Direct labor } & 30,600 \\\text { Beginning goods in process inventory } & 7,200 \\\text { General and administrative expenses } & 13,500 \\\text { Direct materials used } & 40,500 \\\text { Ending goods in process inventory } & 9,000 \\\text { Indirect labor } & 6,300 \\\text { Ending finished goods inventory } & 9,500 \\\text { Indirect materials } & 13,500 \\\text { Depreciation - factory equipment } & 7,500\end{array}$

• A) $102,000
• B) $110,100
• C) $ 96,600
• D) $113,700
• E) $100,200

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Definitions:

Practical Intelligence

Refers to the ability to solve everyday problems through skilled reasoning that relies on tacit knowledge.

Predictors

Variables or factors that can be used to forecast future events or outcomes based on past or current data.

Cultural Influence

The impact that the beliefs, values, and practices of a culture have on the behavior and attitudes of individuals within that culture.

Raven's Progressive Matrices

A non-verbal group test typically used to measure abstract reasoning and regarded as a non-verbal estimate of fluid intelligence.