and TMC MCQ. Question. I CLO (2) 6 marks NOTE: Score will be given ONLY for the practical work BI 1. The beginning inventory of DM amounted to 450,000 which constitutes 90% of DM inventory at the end of the period. The change in inventory of Direct- Material represents 13% of the Net Purchase. The Direct Labor Cost equals 43% of the prime cost, the fixed costs cost amounted to $360,000 The total manufacturing cost is: a. 587,044 b. 334,615 C. 947,044 d. None of the above 2. The Atlas Enterprise has maintained a gross profit margin of 35 percem against gross sales of $ 50,000,000. Sales discounts equals 8 percent of gross sales. 70 percent of goods produced have been sold and the remaining is kept as finished goods. The total manufacturing cost is: 29,700,000 c. f. 12,814,000 g. 42,714,286 h. None of the above 3. The accounting records of Ajman Enterprise shows the following: WIP (End of 2020) WIP (End of 2021) D. material used Direct labor cost Overheads. Amount 8,000,000 9,000,000 42,000,000 16,000,000 17,000,000 Cost of goods manufactured for 2021 is built around the ratio respectively of: a) 89% b) 80% c) 82% 5) None of the above