CandyMan Manufacturing Uses a Process-Cost System and Computes Cost Using

question 117

Multiple Choice

CandyMan Manufacturing uses a process-cost system and computes cost using the weighted average costing method. During the current period, the beginning Work-in-Process Inventory Inventory cost was $15,000. Manufacturing cost added was $65,000. Suppose CandyMan's ending Work-in-Process Inventory Inventory was valued at $22,000. What must have been the cost of goods transferred?

• A) $43,000
• B) $58,000
• C) $65,000
• D) $80,000

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Definitions:

Capital Accumulation

The process of acquiring additional assets or wealth, particularly by businesses or the economy, to create further wealth or produce goods and services.

Fiscal Policy

Government policies related to taxation and spending designed to influence economic conditions, including demand, employment, and inflation.

Aggregate Demand

The entirety of demand for products and services in an economy, pegged at a general price level during an established time frame.

Government Spending

The total amount of money that a government expends in a specific time period, which can include investments in infrastructure, welfare programs, and military expenditure.