Tisdale Company Started the Year with the Following Beginning Account

question 128

Multiple Choice

Tisdale Company started the year with the following beginning account balances: Raw Materials Inventory,$42,000; Work in Process Inventory,$90,000; and Finished Goods Inventory,$20,000.
During the year,the company purchased $60,000 of raw materials and ended the year with $16,000 of raw materials.Direct labor costs for the year were $120,000,and a total of $36,000 of manufacturing overhead costs were allocated to work in process.There was no over- or underapplied overhead.Ending work in process was $82,000 and ending finished goods was $35,000.Goods were sold to customers during the year for $360,000.How much gross margin would be reported for the year?

• A) $110,000
• B) $145,000
• C) $125,000
• D) $171,000

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Definitions:

Hydration Prescription

A specific recommendation or order regarding the intake of fluids to maintain or restore proper hydration levels in the body.

Lactated Ringer's

A solution often used for fluid and electrolyte replenishment in patients, similar in composition to the body's own fluid content.

Blood Group

A classification of blood based on the presence or absence of inherited antigenic substances on the surface of red blood cells, such as the ABO and Rh factor.

Donor Groups

Collections of individuals or entities that give or contribute resources such as money, blood, organs, etc., to support causes, organizations, or individuals in need.