Question 55

1pts

Use the following data to determine the cost of goods manufactured.

Group of answer choices

$102,000.

$110,100.

$96,600.

$113,700.

$100,200.

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Question 56

1pts

The following information pertains to the Hewett Corporation. Calculate the cost of goods sold for the period:

Group of answer choices

$250,000.

$290,000.

$242,000.

$258,000.

$246,000.

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Question 57

1pts

Using the information below, calculate gross profit for the period.

Group of answer choices

$714,000.

$482,000.

$1,022,000.

$187,000.

Cannot be determined from the information provided.

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Question 58

1pts

An internal control system consists of the policies and procedures managers use to do alll of the followingexcept:

Group of answer choices

Urge adherence to company policies.

Promote efficient operations.

Ensure reliable accounting.

Determine pricing for products.

Protect assets.

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Question 59

1pts

The manufacturing statement is divided into four parts consisting of all of the followingexcept:

Group of answer choices

Direct materials.

Computation of cost of goods sold.

Overhead.

Computation of cost of goods manufactured.

Direct labor.

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Question 60

1pts

Choosing to outsource a component of a product or manufacture it internally is an example of a(n):

Group of answer choices

Opportunity cost.

Sunk cost.

Out-of-pocket cost.

Period cost.

Fixed cost.