55. If the balance in the Finished Goods Inventory account is increased by $34,000 during the period and the cost of goods manufactured was $321,000, how much is cost of goods sold? A. $287,000 B. $321,000 C. $355,000 D. Not enough information is provided 56. The balance in the Finished Goods Inventory account on July 31, 2011, was $41,000 and the June 30, 2011, balance in the Finished Goods Inventory account was $34,000. Cost of goods sold is $200,000 and direct materials used in production total $86,000. How much is cost of goods manufactured? A. $286,000 B. $193,000 C. $207,000 D. Not enough information is provided. 57. Ink Technology’s Work in Process Inventory account has a beginning balance of $50,000 and an ending balance of $40,000. Direct materials used are $70,000 and direct incurred totals $35,000. Cost of goods sold totals $135,000. Manufacturing overhead applied is $20,000. How much is cost of goods manufactured? A. $145,000 B. $115,000 C. $125,000 D. $135,000 58. DynaSpa manufactures solar spa heaters and employs a job-order costing system. Beginning raw materials totaled $4,200 and beginning work in process totaled $6,700. Ending work in process totaled $7,700. During October, DynaSpa’s transactions and accounts included the following: Raw materials acquired $91,000 Manufacturing overhead applied 34,000 Direct materials requisitioned and transferred to production 65,400 Cost of goods manufactured 331,000 How much is the amount of the current manufacturing costs? A. $332,000 B. $99,400 C. $430,400 D. Not enough information is provided 59. Sanitize Systems had current production of $211,000 for March. Inventories were as follows: Beginning Ending Raw material $13,000 $9,000 Work in Process $14,000 $15,000 Finished $18,000 $16,000 How much is the cost of goods manufactured? A. $213,000 B. $212,000
55. If the balance in the Finished Goods Inventory account is increased by $34,000 during the period and the cost of goods manufactured was $321,000, how much is cost of goods sold? A. $287,000 B. $321,000 C. $355,000 D. Not enough information is provided 56. The balance in the Finished Goods Inventory account on July 31, 2011, was $41,000 and the June 30, 2011, balance in the Finished Goods Inventory account was $34,000. Cost of goods sold is $200,000 and direct materials used in production total $86,000. How much is cost of goods manufactured? A. $286,000 B. $193,000 C. $207,000 D. Not enough information is provided. 57. Ink Technology’s Work in Process Inventory account has a beginning balance of $50,000 and an ending balance of $40,000. Direct materials used are $70,000 and direct incurred totals $35,000. Cost of goods sold totals $135,000. Manufacturing overhead applied is $20,000. How much is cost of goods manufactured? A. $145,000 B. $115,000 C. $125,000 D. $135,000 58. DynaSpa manufactures solar spa heaters and employs a job-order costing system. Beginning raw materials totaled $4,200 and beginning work in process totaled $6,700. Ending work in process totaled $7,700. During October, DynaSpa’s transactions and accounts included the following: Raw materials acquired $91,000 Manufacturing overhead applied 34,000 Direct materials requisitioned and transferred to production 65,400 Cost of goods manufactured 331,000 How much is the amount of the current manufacturing costs? A. $332,000 B. $99,400 C. $430,400 D. Not enough information is provided 59. Sanitize Systems had current production of $211,000 for March. Inventories were as follows: Beginning Ending Raw material $13,000 $9,000 Work in Process $14,000 $15,000 Finished $18,000 $16,000 How much is the cost of goods manufactured? A. $213,000 B. $212,000
test-bank-managerial-accounting-5th-edition-jiambalvo.docx