11. The financial stabements of a merchandiser are more complex than those of a manufacturer 12. Which ethical standard is demonstrated when you attend a class to maintain your professional o underallocation is typically corrected by adjusting Cost of Goods Sold on the income False 14The cost of wages paid to assembly-Ine workers should be treated as a r Tnue manufachume Oo overhead cost pioceSS 15. Here are selected data for King Friday Corporation Beginning raw materials inventory Beginning finished goods inventory $56,300 Cost of materials purchased Cost of direct materials requisitioned $92,200 Direct labor Actual manufacturing overhead Cost of goods sold $37,000 Beginning work in prooess inventory $151 160,000 Cost of goods manufactured $265,000 Predetermined Manufacturing overhead rate(% of direct labor) $287 135% What is the ending work in process inventory balance C A $240,700 C$185 900 M Selected information regarding a company's most recent quarter follows all data in thousands) coes= $640 $2,490 $3,080 Ending finished goods inventory $240 Cost of goods manufactured $1,580 Gross profit Sales revenue 3086-9490=SPA What was cost of goods sold? A$1,180 B $860 D $940