ComPrint Co In Addition, Direct Labour Costs of $30,000 Were Incurred, Overhead

question 204

Multiple Choice

ComPrint Co. had the following beginning and ending inventory balances for the year ended December 31: $$\begin{array} { l c c } & \text { January 1 } & \text { December } 31 \\\text { Materials } & \$ 10,000 & \$ 8,000 \\\text { Work in Process } & \$ 18,000 & \$ 17,000 \\\text { Finished Goods } & \$ 21,000 & \$ 16,500\end{array}$$
In addition, direct labour costs of $30,000 were incurred, overhead equalled $42,000, materials purchased were $27,000, and selling and administrative costs were $22,000. ComPrint Co. sold 25,000 units of product during the year at a sales price of $5.00 per unit.

-Refer to the Figure.What was the amount of cost of goods sold for the year?

• A)$97,500
• B)$102,000
• C)$106,500
• D)$128,500

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Definitions:

Motor Development

The progressive acquisition of skills involving movement, such as grasping, walking, and coordinating fine motor tasks.

Toddler

A child who walks with short, uncertain steps. Toddlerhood lasts from about 12 months to 30 months of age, thereby bridging infancy and early childhood.

Slope

The measure of the steepness or incline of a line, often calculated as the ratio of the vertical change to the horizontal change.

Voluntary Reaching

The intentional movement towards an object with the aim of grasping or touching it, a milestone in motor development.