The Following Information Relates to the Manufacturing Operations of the JNR

question 217

Multiple Choice

The following information relates to the manufacturing operations of the JNR Printing Company for the year: 11edcbcd
$\begin{array}{lrr} & \text { Beginning } & \text { Ending } \\\text { Raw materials inventory } & \$ 57,000 & \$ 60,000 \\\text { Finished goods } & 68,000 & 60,000\end{array}$

The raw materials used in manufacturing during the year totaled $118,000. Raw materials purchased during the year amount to:

• A) $107,000.
• B) $115,000.
• C) $118,000.
• D) $121,000.
• E) $126,000.

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Definitions:

Savings Account

A bank account that earns interest over time, designed for storing money that is not intended for daily expenses.

Compounded Quarterly

A way of calculating interest where the interest is added to the principal balance four times a year, allowing the investment to grow at a faster rate due to the interest on interest effect.

Monthly Payment

The amount of money that needs to be paid each month, commonly associated with loans or subscriptions.

Car Loan

A loan granted specifically for the purchase of a car, where the vehicle itself often secures the loan.