101. The total cost of goods completed during the accounting period for a manufacturer is called:
A, Ending finished goods inventory.
B, Total manufacturing costs.
C, Ending goods in process inventory.
D, Cost of goods manufactured.
E, Cost of goods sold.
102. A manufacturing firm's cost of goods manufactured is equivalent to a merchandising firm's:
A. Cost of goods sold.
B. Cost of goods purchased.
C. Cost of goods available.
D. Beginning merchandise inventory.
E. Ending merchandise inventory.
103. Which one of the following items is normally not a manufacturing cost?
A. Direct materials.
B. Factory overhead.
C. General and administrative expenses.
D. Direct labor.
E. Conversion cost.
104. Juliet Corporation has accumulated the following accounting data for the year:
Finished goods inventory, January 1
|
$3,200
|
Finished goods inventory, December 31
|
4,000
|
Total cost of goods sold
|
4,200
|
The cost of goods manufactured for the year is:
A. $200
B. $1,000
C. $5,000
D. $6,400
E. $8,200
105. A manufacturing company has a beginning finished goods inventory of $14,600, raw material purchases of $18,000, cost of goods manufactured of $32,500, and an ending finished goods inventory of $17,800. The cost of goods sold for this company is:
A. $21,200
B. $29,300
C. $32,500
D. $47,100
E. $27,600
106. The beginning and ending finished goods inventories of the Prize Ring manufacturing company were $75,000 and $73,000 respectively. If cost of goods sold equaled $66,000, what is the amount of cost of goods manufactured for this period?
A. $2,000
B. $64,000
C. $68,000
D. $82,000
E. $214,000
107. Compute cost of goods manufactured for this period given the following amounts.
Ending finished goods inventory
|
$66,000
|
Cost of goods sold
|
54,000
|
Beginning finished goods inventory
|
60,000
|
A. $72,000
B. $48,000
C. $60,000
D. $66,000
E. $180,000.
108. The beginning and ending finished goods inventories of a company were $91,000 and $94,000 respectively. If cost of goods sold equaled $800,000, what is the amount of cost of goods manufactured for this period?
A. $706,000
B. $709,000
C. $797,000
D. $803,000
E. $3,000
109. A manufacturing statement is also known as a schedule or listing of the:
A. Raw materials processed.
B. Factory supplies used.
C. Cost of goods manufactured.
D. Total finished goods.
E. Cost of goods sold.
110. The following information relates to the manufacturing operations of the IMH Publishing Corporation for the year:
|
Beginning
|
Ending
|
Raw materials inventory
|
$ 57,000
|
$60,000
|
Finished goods
|
68,000
|
60,000
|
|
|
|
The raw materials used in manufacturing during the year totaled $118,000. Raw materials purchased during the year amount to:
A. $107,000
B. $115,000
C. $118,000
D. $121,000
E. $126,000