Question
HITHEM Incorporated reported the following information: On January 31, 2019: Job #101 was the only job in process (partially completed) with accumulated total manufacturing costs
HITHEM Incorporated reported the following information:
On January 31, 2019: Job #101 was the only job in process (partially completed) with accumulated total manufacturing costs of $16,000 and non-manufacturing cost of $29,000.
During February the following costs were added:
Manufacturing costs Non-Manufacturing costs
Job #101 $40,000 $70,000
Job #102 $32,000 $60,000
Job #103 $28,000 $50,000
On February 28, 2019:
Job #101 was completed and sold for $100,000.
Job #102 was completed but not sold.
Job #103 remains in production.
The cost of goods sold for February (COGS) is:
| A. | $56,000 | |
| B. | $88,000 | |
| C. | $100,000 | |
| D. | $40,000 | |
| E. | $110,000 | |
| F. | $120,000 | |
| G. | $126,000 | |
| H. | $86,000 |
HITHEM Incorporated reported the following information:
On January 31, 2019: Job #101 was the only job in process (partially completed) with accumulated total manufacturing costs of $16,000 and non-manufacturing cost of $29,000.
During February the following costs were added:
Manufacturing costs Non-Manufacturing costs
Job #101 $40,000 $70,000
Job #102 $32,000 $60,000
Job #103 $28,000 $50,000
On February 28, 2019:
Job #101 was completed and sold for $100,000.
Job #102 was completed but not sold.
Job #103 remains in production.
The current total manufacturing costs for February (TMC) is:
| A. | $86,000 | |
| B. | $202,000 | |
| C. | $56,000 | |
| D. | $110,000 | |
| E. | $142,000 | |
| F. | $14,000 | |
| G. | $100,000 | |
| H. | $88,000 |
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Public Sector Accounting And Budgeting For Non-Specialists
Authors: G. Jan Van Helden, Ron Hodges
1st Edition
1137376988, 9781137376985
