Question 1.31

Consider the following information: direct materials used totaled $124,700; direct labor amounted to $412,000; overhead was computed to be $789,600; Work in Process Inventory on March 1, 2014, was $482,500; and Work in Process Inventory on March 31, 2014, was $597,100. What was the cost of goods manufactured?

a. $1,211,700

b. $729,200

c. $1,440,900

1 point

Question 1.32

The beginning finished goods inventory of Ronald Co. was $480,125. Goods completed during the year cost $963,250. The ending finished goods inventory was dangerously low, having been reduced to $135,850. The cost of goods sold for the year for Ronald Co. was

a. $618,975.

b. $1,307,525.

c. $1,579,225.

d. $1,171,675.

1 point

Question 1.33

Recorded costs for the DC5 Division, which manufactured 6,000 units of Product DC5 during the month, are as follows:

Direct materials $458,000

Direct labor 400,000

Indirect production costs 80,000

Supervisory services 40,000

Total $978,000

The per-unit cost of manufacturing Product DC5 this month is

a. $163.

b. $152.

c. $170.

d. $150.

1 point

Question 1.34

Which of the following is not a stage in the management process?

a. Evaluating

b. Communicating

c. Planning

d. Recording

Question 1.35

If a management accountant confides to a relative that his or her company has a confidential plan to merge with another company in the near future, the accountant has

a. not violated ethical standards.

b. violated ethical standards only if the relative owns stock in the company.

c. violated ethical standards because the relative could stand to gain personally from that information.

d. not violated ethical standards because the information was relayed to a family member only.