$1,605 c. $1,350 d. $1,650 a ANSWER: SUPPORTING CALCULATIONS: $1,350 + 450 - $495 = $1,305 RATIONALE: Rebel Yell, Inc., recorded the following data for April: Beginning finished goods inventory $60,000 Beginning work-in-process inventory Ending work-in-process inventory Ending finished inventory Factory overhead costs Direct materials used Direct labor What is the cost of goods manufactured for April? a. $470,000 b. $420,000 c. $460,000 d. $430,000 b ANSWER: SUPPORTING CALCULATIONS: $160,000 + $100,000 + $200,000 + $40,000 - $80,000 = RATIONALE: $420,000 The records of the Williamson Company show the following information: Direct materials used $90,000 Direct labor Factory overhead Beginning work-in-process inventory Beginning finished goods inventory Ending work-in-process inventory Selling and administrative expenses What was the cost of goods manufactured during the year? a. $370,000 b. $365,000 c. $343,000 d. $333,000 c ANSWER: SUPPORTING CALCULATIONS: $90,000 + $130,000 + $150,000 + $15,000 - $42,000 = RATIONALE:
$1,605 c. $1,350 d. $1,650 ANSWER: a RATIONALE: SUPPORTING CALCULATIONS: $1,350 + 450 - $495 = $1,305 Rebel Yell, Inc., recorded the following data for April: Beginning finished goods inventory $60,000 Beginning work-in-process inventory Ending work-in-process inventory Ending finished inventory Factory overhead costs Direct materials used Direct labor What is the cost of goods manufactured for April? a. $470,000 b. $420,000 c. $460,000 d. $430,000 ANSWER: b RATIONALE: SUPPORTING CALCULATIONS: $160,000 + $100,000 + $200,000 + $40,000 - $80,000 = $420,000 The records of the Williamson Company show the following information: Direct materials used $90,000 Direct labor Factory overhead Beginning work-in-process inventory Beginning finished goods inventory Ending work-in-process inventory Selling and administrative expenses What was the cost of goods manufactured during the year? a. $370,000 b. $365,000 c. $343,000 d. $333,000 ANSWER: c RATIONALE: SUPPORTING CALCULATIONS: $90,000 + $130,000 + $150,000 + $15,000 - $42,000 =
Test-Bank-for-Cornerstones-of-Cost-Management-3rd-Edition-by-Hansen.docx