Work in Process Inventory Pinished Goods Inventory 6,000 223,300 Beginning WIP Direct materials Direct labor Factory overhead To Finished Goods Ending WIP 36,200 57,300 Beginning FG Cost of Goods Mfg'd 223,300 26,200 1 Multiple Choice $156,000. $93,600. $93,500. $62,400. $85,950 Using the information below, caiculate the cost of goods manufactured for the period Beginning Ra Materials Inventory 2, 000 Ending Raw Materials Inventory Beginning Work in Process Inventory 55,000 Ending Hork in Process Inventory Beginning Finished Gooda Inventory Ending Finished Goods Inventory Cost of Goods Sold for the period sales revenues for the period Operating expenses for the period 30,000 64,000 80,000 67,000 540,000 1,254,000 232,000 Multiple Choice $553,000 $536,000 O $549.000 $527000 525,000 Which of the following is not part of the production activity in the fow of manufacturing activities? Mult pie Choice Beginning Work in Process Inventory Cost of goods manufactured. O Direct labor. Factory overhead Total finished goods available for sale. Al of the following statements regarding manufacturing costs are true except Multiple Choice Direct material costs that increase in total with volume ot production are calied variable costs. The reporting of fixed and variable costs separately is not he pful to managers in analyzing cost behavior When overhead costs vary with production, they are called varlable overhead When overhead costs don't vary with production, they are called fixed overhead. Overhead can be both variable and fixed. Expenses that support the overall operations of a business and Include the expenses relating to accounting, human resource management, and financial management are called: Mult ple Choice Cost of goods sold. Selling expenses Purchasing expenses O General and administrative expenses Non-operating activities. If the cost of the beginning work in process Inventory is $60,000, drect materlals cost s $350,000, drect labor cost is $216,000, and overhead cost is $319,000, and the ending work In process Inventory s $55,000, calculate the cost of goods manufactured Multpie Choice $1,000,000. $571,000 $885,000 $890,000 $945,00o