Econo Company
in July, Econo Company Purchased Materials Costing $21,000

question 82

Multiple Choice

Econo Company
In July, Econo Company purchased materials costing $21,000 and incurred direct labour cost of $18,000. Manufacturing overhead totalled $32,000 for the month. Information on inventories was as follows: $\begin{array}{lrr}&\text { July } 1& \text { July } 31\\\text { Materials } & \$ 6,200 & \$ 7,100 \\\text { Work-in-process } & \$ 700 & \$ 1,200 \\\text { Finished goods } & \$ 3,300 & \$ 2,700\end{array}$
-Refer to Ballard Company. How many sets of portable speakers did the company sell during the year?

• A) 96,780
• B) 97,000
• C) 97,220
• D) 100,220

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Definitions:

Time

The indefinite continued progress of existence and events in the past, present, and future regarded as a whole.

Volume

The quantity of three-dimensional space enclosed by a closed surface or the amount of space that a substance or object occupies.

Financial and Market

Related to the economic activities and conditions that affect investment, trading, and valuation decisions in markets.

Revenue

The overall income produced from selling goods or services that are central to a company's main business activities.