Ting Company Started the Accounting Period with the Following Beginning

question 55

Multiple Choice

Ting Company started the accounting period with the following beginning balances: Raw Materials Inventory,$21,000; Work in Process Inventory,$45,000; and Finished Goods Inventory,$10,000.During the accounting period,the company purchased $30,000 of raw materials and ended the period with $8,000 in raw material inventory.Direct labor costs for the period were $60,000,and $63,000 of manufacturing overhead costs were allocated to work in process.There was no over- or underapplied overhead.Ending work in process was $41,000 and ending finished goods was $17,500.Goods were sold during the period for $162,500.The amount of cost of goods manufactured (i.e.,amount transferred from work in process to finished goods) would be:

• A) $117,500.
• B) $170,000.
• C) $221,000.
• D) $166,000.

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Definitions:

Termination Phase

The final phase of a process, project, or therapy in which activities are concluded and the relationship is ended.

Socially Unacceptable Behaviors

Actions that are considered inappropriate or offensive according to societal standards and norms.

Consistency

The quality of always acting or behaving in the same way, ensuring predictability.

Daily Basis

Refers to activities or tasks done every day.