In Relation to the Cost of Goods Manufactured Report Which

question 55

Multiple Choice

In relation to the cost of goods manufactured report which is not a correct statement?

• A) The ending work in process is subtracted to obtain the cost of completed goods manufactured for the period.
• B) Cost of goods manufactured is transferred to the cost of sales account.
• C) It is prepared to calculate the cost of goods completed in the period.
• D) The total of direct materials, direct labour and factory overhead represent the manufacturing costs for the period.

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Definitions:

Seawater

Water from a sea or ocean, characterized by its high salinity and containing various minerals and substances dissolved in it.

Nitrogen Cycle

The series of processes by which nitrogen and its compounds are interconverted in the environment and in living organisms, including nitrogen fixation and decomposition.

Bacteria

Microscopic, single-celled organisms found in diverse environments, capable of performing various biochemical processes.

Nitrogen Fixation

The chemical processes by which atmospheric nitrogen is assimilated into organic compounds, especially by certain microorganisms as part of the nitrogen cycle.