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

question 17

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 Quest Company. What were the total product costs?

• A) $100,000
• B) $150,000
• C) $190,000
• D) $236,000

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Definitions:

Hermann Ebbinghaus

A German psychologist who pioneered the experimental study of memory and is known for his discovery of the forgetting curve and the spacing effect.

Marigold Linton

A psychologist known for her work in cognitive psychology, particularly in memory and the phenomenon of flashbulb memories.

Personal Experience

An individual's direct encounter or involvement in events, shaping their knowledge or understanding.

Real Events

Real events refer to actual occurrences or happenings in the world, as opposed to fictional or imagined scenarios.