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The following information relates to a company at its year end. $ Inventory at beginning of year Raw materials 10,000 Work-in-progress 2,000 Finished goods 34,000 Inventory at end of year Raw materials 11,000 Work-in-progress 4,000 Finished goods 30,000 Purchases of raw materials 50,000 Direct wages 40,000 Royalties on goods sold 3,000 Production overheads 60,000 Distribution costs 55,000 Administration expenses 70,000 Sales 300,000 The cost of goods manufactured during the year is A $147,000 B $151,000 C $153,000 D $154,000

The following information relates to a company at its year end. $ Inventory at beginning of year Raw materials 10,000 Work-in-progress 2,000 Finished goods 34,000 Inventory at end of year Raw materials 11,000 Work-in-progress 4,000 Finished goods 30,000 Purchases of raw materials 50,000 Direct wages 40,000 Royalties on goods sold 3,000 Production overheads 60,000 Distribution costs 55,000 Administration expenses 70,000 Sales 300,000 The cost of goods manufactured during the year is A $147,000 B $151,000 C $153,000 D $154,000

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter5: Process Costing
Section: Chapter Questions
Problem 12EA: What are the total costs to account for if a companys beginning inventory had $231,432 in materials,...
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The following information relates to a company at its year end.

$

Inventory at beginning of year

Raw materials 10,000

Work-in-progress 2,000

Finished goods 34,000

Inventory at end of year

Raw materials 11,000

Work-in-progress 4,000

Finished goods 30,000

Purchases of raw materials 50,000

Direct wages 40,000

Royalties on goods sold 3,000

Production overheads 60,000

Distribution costs 55,000

Administration expenses 70,000

Sales 300,000

The cost of goods manufactured during the year is

A $147,000

B $151,000

C $153,000

D $154,000

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