Erholm Inc

question 66

Multiple Choice

Erholm Inc.has provided the following data for the month of March.The balance in the Finished Goods inventory account at the beginning of the month was $43,000 and at the end of the month was $42,000.The cost of goods manufactured for the month was $221,000.The actual manufacturing overhead cost incurred was $45,000 and the manufacturing overhead cost applied to jobs was $49,000.The adjusted cost of goods sold that would appear on the income statement for March is:

• A)$218,000
• B)$220,000
• C)$222,000
• D)$221,000

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Definitions:

Aggregate Expenditure

The total amount spent on goods and services in an economy at a particular time.

Federal Budget Deficits

The excess of federal government expenditures over its revenues within a given fiscal year, leading to borrowing or debt accumulation.

Government Spending

Expenditures made by the government sector on goods and services, including infrastructure, education, and security, to influence the economy.

Taxes

Compulsory financial charges or some other type of levy imposed upon a taxpayer by a governmental organization.