Mc Manufacturing Reports the Following Information for a Recent Year

question 16

Short Answer

Mc Manufacturing reports the following information for a recent year.Determine the cost of 1.
$\begin{array}{lr}\text { finished goods manufactured. }&\$\\\text { Work in process 1 January } & 7000 \\\text { Work in process 31 December } & 10000 \\\text { Finished goods inventory 1 January } & 5000 \\\text { Finished goods inventory 31 December } & 6000 \\\text { Direct materials used } & 3000 \\\text { Direct labour } & 2000 \\\text { Factory overhead } & 2000 \\\text { Selling expenses } & 3000 \\\text { General and administrative expenses } & 4000\end{array}$
a.$ 4000
b.$ 3000
c.$ 5000
d.$ 6000

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Definitions:

Medulla

A term often referring to the inner core of certain organs or structures, such as the medulla oblongata in the brain or the adrenal medulla.

Cognitive Processes

Mental actions or operations that involve thinking, reasoning, problem-solving, and the processing of information.

Phrenology

is the now-discredited field of study which posited that bumps on the skull could predict mental traits and character.

Cognitive Processes

The cognitive processes that encompass the acquisition, storage, retrieval, and application of knowledge.