Cromuel Corporation Has Provided the Following Data for January

question 37

Multiple Choice

Cromuel Corporation has provided the following data for January. The beginning balance in the raw materials inventory account was $27,000. During the month, the company made raw materials purchases amounting to $50,000. At the end of the month, the balance in the raw materials inventory account was $24,000. Direct labor cost was $53,000 and manufacturing overhead was $70,000. The beginning balance in the work in process account was $14,000 and the ending balance was $12,000. The beginning balance in the finished goods account was $33,000 and the ending balance was $51,000. Sales totaled $270,000. Selling expense was $21,000 and administrative expense was $48,000.
-The total manufacturing cost for January was:

• A) $70,000
• B) $123,000
• C) $176,000
• D) $173,000

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Definitions:

Firm's Existence

Pertains to the existence and operation of a business entity within the market, including its legal and economic activities.

Maturity Stage

A phase in the product life cycle where growth in sales has started to slow down, and the product is established in the market.

Entrepreneurial Firms

Companies focused on innovation, rapid growth, and high risk, often in emerging industries or markets.

Growth

The process of increasing in size, number, value, or strength, often used in contexts of individual development, economic progress, or business expansion.