ComPrint Co In Addition, Direct Labour Costs of $30,000 Were Incurred, Overhead

question 28

Multiple Choice

ComPrint Co. had the following beginning and ending inventory balances for the year ended December 31: $$\begin{array} { l c c } & \text { January 1 } & \text { December } 31 \\\text { Materials } & \$ 10,000 & \$ 8,000 \\\text { Work in Process } & \$ 18,000 & \$ 17,000 \\\text { Finished Goods } & \$ 21,000 & \$ 16,500\end{array}$$
In addition, direct labour costs of $30,000 were incurred, overhead equalled $42,000, materials purchased were $27,000, and selling and administrative costs were $22,000. ComPrint Co. sold 25,000 units of product during the year at a sales price of $5.00 per unit.

-Refer to the Figure.What was the amount of Cost of Goods Manufactured for the year?

• A)$100,000
• B)$101,000
• C)$102,000
• D)$124,000

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Definitions:

Evidence-Based Management Model

A decision-making process that relies on critically evaluating and applying the most current and relevant data and research to managerial decisions.

Lone "Geniuses"

Refers to individuals who are recognized for their exceptional creativity or intelligence, often perceived to work and achieve success independently of others.

Diversity Competency

The ability to understand, respect, and value the differences among individuals, contributing to an inclusive workplace.

Competitive Advantage

The attributes that allow an organization to outperform its competitors.