Use the Following Information to Compute the Cost of Goods

question 104

Multiple Choice

Use the following information to compute the cost of goods manufactured:
$\begin{array}{lr}\text { Beginning finished goods inventory } & \$ 9,250 \\\text { Beginning goods in process inventory } & 8,700 \\\text { Beginning raw materials } & 7,500 \\\text { Depreciation on factory equipment } & 6,000 \\\text { Direct labor } & 75,000 \\\text { Ending finished goods inventory } & 8,750 \\\text { Ending goods in process inventory } & 9,300 \\\text { Ending raw materials } & 8,500 \\\text { Factory Supervisor's salary } & 50,000 \\\text { Raw material purchases } & 14,000\end{array}$

• A) $143,400
• B) $13,000
• C) $143,000
• D) $144,500
• E) $93,400

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Definitions:

Standard Deviation

A statistic that measures the amount of variation or dispersion of a set of values.

Dispersed

Spread over a wide area or among a large number of people.

Mean

The arithmetic average of a set of numbers, calculated by adding them together and dividing by the number of values.

Average Score

The sum of all individual scores divided by the number of scores, often used as a measure of central tendency.