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If the cost of goods manufactured for the year was $396,000, what was the cost of goods sold for the year?




[The following information applies to the questions displayed below.];Finished goods inventory, January 1, 2011;$ 30,400;Finished goods inventory, December 31, 2011;$ 25,200;If the cost of goods manufactured for the year was $396,000, what was the cost of goods sold for the year?;$401,200.;None of these.;$396,000.;$406,400.;$411,600.;Yang Corporation recently computed total product costs of $579,000 and total period costs of $480,000, excluding $41,000 of sales commissions that were overlooked by the company's administrative assistant. On the basis of this information, Yang's income statement should reveal operating expenses of;$41,000.;$620,000.;$579,000.;$480,000.;$521,000.;The accounting records of Diego Company revealed the following costs, among others;Factory insurance;$ 35,000;Raw material used;258,000;Customer entertainment;17,000;Indirect labor;48,000;Depreciation on salespersons' cars;31,000;Production equipment rental costs;74,000;Calculate the total manufacturing overhead for the company.;$157,000.;$463,000.;None of these.;$188,000.;$205,000.;Carolina Plating Company reported a cost of goods manufactured of $523,000, with the firm's year-end balance sheet revealing work in process and finished goods of $76,000 and $140,000, respectively. If supplemental information disclosed raw materials used in production of $87,000, direct labor of $141,000, and manufacturing overhead of $241,000, the company's beginning work in process must have been;None of these.;$22,000.;$393,000.;$130,000.;$55,000.;The accounting records of Dolphin Company revealed the following information;Total manufacturing costs;$ 760,000;Work-in-process inventory, Jan. 1;79,000;Work-in-process inventory, Dec. 31;101,000;Finished-goods inventory, Jan. 1;169,000;Finished-goods inventory, Dec. 31;146,000;Dolphin's cost of goods sold is;None of these.;$761,000.;$759,000.;$783,000.;$738,000.;[The following information applies to the questions displayed below.];Raw materials inventory, January 1, 2011;$ 34,000;Raw materials inventory, December 31, 2011;$ 28,200;10_29_2012;If purchases of raw materials were $150,000 during the year, what was the amount of raw materials used during the year?;$150,000.;$155,800.;$161,600.;$144,200.;None of these;Hot'lanta, Inc., which uses the high-low method to analyze cost behavior, has determined that machine hours best explain the company's utilities cost. The company's relevant range of activity varies from a low of 600 machine hours to a high of 1,100 machine hours, with the following data being available for the first six months of the year;Month;Utilities;Machine Hours;January;$9,200;850;February;8,860;770;March;9,450;860;April;9,860;970;May;10,240;1,000;June;9,650;950;Using the high-low method, the utilities cost associated with 1,030 machine hours would be;$10,420.;$10,140.;$10,330.;$10,290.;an amount other than those listed above.


Paper#78939 | Written in 18-Jul-2015

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