The accounting records of Omar Corporation contained the following information for last year: BeginningEndingDirect materials inventory$9,000 $7,000 Work in process inventory$17,000 $31,000 Finished goods inventory$10,000 $15,000   Manufacturing Costs IncurredDirect materials used$72,000Overhead applied$24,000Direct labor cost (10,000 hours)$80,000Depreciation$10,000Rent$12,000Taxes$8,000Unadjusted cost of goods sold (does not includeoverapplied or underapplied overhead)$157,000  Selling, General, andAdministrative Costs IncurredAdvertising$35,000 Rent$20,000 Clerical$25,000  The cost of goods manufactured for the year was:

A. $162,000
B. $135,000
C. $168,000
D. $190,000


Answer: A

Business

You might also like to view...

What issues must be considered in designing hardcopy documents?

Business

Darius has the right to prevent his neighbor from erecting a building on his property that would block light and air from Darius's home. This is an example of a(n) ________.

A. affirmative easement B. adverse possession C. negative easement D. necessity

Business

The failure of a trademark owner to file an affidavit stating it is in use is referred to as which of the following trademark invalidation reasons?

a. cancellation proceeding b. a competitor's lawsuit c. consumer loss of interest d. cleaning-out procedure

Business

While there are literally thousands of investment options to choose from, most of them are very:

A) complicated. B) complex. C) convoluted. D) confusing. E) All of the answers are correct

Business