Management of Parrent Corporation Has Asked Your Help as an Intern

question 76

Multiple Choice

Management of Parrent Corporation has asked your help as an intern in preparing some key reports for April. The company started the month with raw materials inventories of $32,000. During the month, the company made raw materials purchases amounting to $68,000. At the end of the month, raw materials inventories totaled $35,000. Direct labor cost was $43,000 and manufacturing overhead was $62,000. The beginning balance in the work in process account was $19,000 and the ending balance was $12,000. The beginning balance in the finished goods account was $35,000 and the ending balance was $58,000. Sales totaled $240,000. Selling expense was $18,000 and administrative expense was $42,000.
-The cost of goods manufactured for April was:

• A) $177,000
• B) $173,000
• C) $170,000
• D) $163,000

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Definitions:

Racially Integrated

The process of combining people of different races in a shared environment, especially in social and educational settings, aiming toward equality and inclusivity.

Bretton Woods Conference

The Bretton Woods Conference was a gathering in 1944 that established the Bretton Woods system, creating key financial institutions like the International Monetary Fund and the World Bank to regulate the international monetary and financial order after World War II.

Korematsu Decision

The 1944 Supreme Court case (Korematsu v. United States) that upheld the internment of Japanese Americans during World War II as constitutional.

Bretton Woods Meeting

An international conference held in 1944 in Bretton Woods, New Hampshire, where the foundations for the modern international monetary system and major global financial institutions were established.