If the cost of goods manufactured for the year was $396,000, what was

  1. [The following information applies to the questions displayed below.]

 Finished goods inventory, January 1, 2011

$ 30,400  

 Finished goods inventory, December 31, 2011

$ 25,200  


If the cost of goods manufactured for the year was $396,000, what was the cost of goods sold for the year?




None of these.








  1. Yang Corporation recently computed total product costs of $579,000 and total period costs of $480,000, excluding $41,000 of sales commissions that were overlooked by the company’s administrative assistant. On the basis of this information, Yang’s income statement should reveal operating expenses of:












  1. The accounting records of Diego Company revealed the following costs, among others:

 Factory insurance

$ 35,000  

 Raw material used


 Customer entertainment


 Indirect labor


 Depreciation on salespersons’ cars


 Production equipment rental costs


Calculate the total manufacturing overhead for the company.






None of these.






  1. Carolina Plating Company reported a cost of goods manufactured of $523,000, with the firm’s year-end balance sheet revealing work in process and finished goods of $76,000 and $140,000, respectively. If supplemental information disclosed raw materials used in production of $87,000, direct labor of $141,000, and manufacturing overhead of $241,000, the company’s beginning work in process must have been:


None of these.










  1. The accounting records of Dolphin Company revealed the following information:

 Total manufacturing costs

$ 760,000  

 Work-in-process inventory, Jan. 1


 Work-in-process inventory, Dec. 31


 Finished-goods inventory, Jan. 1


 Finished-goods inventory, Dec. 31


Dolphin’s cost of goods sold is:


None of these.










  1. [The following information applies to the questions displayed below.]

 Raw materials inventory, January 1, 2011

$ 34,000  

 Raw materials inventory, December 31, 2011

$ 28,200  


If purchases of raw materials were $150,000 during the year, what was the amount of raw materials used during the year?










None of these

  1. Hot’lanta, Inc., which uses the high-low method to analyze cost behavior, has determined that machine hours best explain the company’s utilities cost. The company’s relevant range of activity varies from a low of 600 machine hours to a high of 1,100 machine hours, with the following data being available for the first six months of the year:



Machine Hours























Using the high-low method, the utilities cost associated with 1,030 machine hours would be:










an amount other than those listed above.



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