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5/ Craigmont Company's direct materials costs are $4,600,000, its direct labor costs total $8,440,000, and its factory overhead costs total $6,440,000. Its prime costs total:
5/ Craigmont Company's direct materials costs are $4,600,000, its direct labor costs total $8,440,000, and its factory overhead costs total $6,440,000. Its prime costs total:
Multiple Choice
$13,040,000.
$11,040,000.
$14,880,000.
$6,600,000.
$19,480,000.
6/ Calculate the cost of goods sold using the following information:
Direct materials | $ | 299,300 | |
Direct labor | 132,800 | ||
Factory overhead costs | 264,800 | ||
General and administrative expenses | 86,300 | ||
Selling expenses | 49,600 | ||
Work in Process inventory, January 1 | 119,300 | ||
Work in Process inventory, December 31 | 126,700 | ||
Finished goods inventory, January 1 | 232,900 | ||
Finished goods inventory, December 31 | 239,500 | ||
Multiple Choice
$682,900.
$696,900.
$689,500.
$775,800.
$704,300.
7/ Using the information below, calculate cost of goods sold for the period:
Sales revenues for the period | $ | 1,324,000 | |
Operating expenses for the period | 259,000 | ||
Finished Goods Inventory, January 1 | 56,000 | ||
Finished Goods Inventory, December 31 | 61,000 | ||
Cost of goods manufactured for the period | 560,000 | ||
Multiple Choice
$814,000.
$809,000.
$510,000.
$555,000.
$388,000.
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