The Juarez Corporation incurred the following transactions during its first year of operations. (Assume all transactions involve cash).1) Acquired $1,000 of capital from the owners.
2) Purchased $400 of direct raw materials.
3) Used $300 of these direct raw materials in the production process.
4) Paid production workers $400 cash.
5) Paid $200 for manufacturing overhead.
6) Started and completed 200 units of inventory.
7) Sold 50 units at a price of $6 each.
8) Paid $40 for selling and administrative expenses.
The amount of cost of goods manufactured would be:
A. $800.
B. $1,000.
C. $900.
D. $600.
Answer: C
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