Gest Inc Has Provided the Following Data for the Month of of November

question 84

Multiple Choice

Gest Inc. has provided the following data for the month of November. The balance in the Finished Goods inventory account at the beginning of the month was $49,000 and at the end of the month was $45,000. The cost of goods manufactured for the month was $226,000. The actual manufacturing overhead cost incurred was $74,000 and the manufacturing overhead cost applied to jobs was $70,000. The adjusted cost of goods sold that would appear on the income statement for November is:

• A)$226,000
• B)$230,000
• C)$222,000
• D)$234,000

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Definitions:

Wishful Thinking

The formation of beliefs based on what is desired to be true rather than on evidence, reality, or rationality.

Mood Swings

Rapid and often extreme fluctuations in emotional state, ranging from euphoria to despair.

Psychotic Disorder

A mental health condition characterized by disconnection from reality, which can include delusions and hallucinations.

Schizophrenia

A chronic brain disorder characterized by distorted thinking, perceptions, emotions, and behavior, often manifesting in hallucinations, delusions, and disorganized speech.