(Management Accounting) - What is the Cost of Goods Sold? The following information was obtained from the accounting records of Stevenson Incorporated: Direct materials purchased $80,000 Direct...

(Management Accounting) - What is the Cost of Goods Sold?

The following information was obtained from the accounting records of Stevenson Incorporated:

Direct materials purchased                            $80,000

Direct materials used                                     $54,000

Direct manufacturing labor costs                  $12,000

Indirect manufacturing labor costs                $11,000

Selling expenses                                            $16,000

Administrative expenses                                $22,000

Factory utilities costs                                     $20,000

Rental cost of factory machines                    $50,000

Work in process inventory, beginning                     0

Work in process inventory, end                                0

Finished goods inventory, beginning            $10,000

Finished goods inventory, end                       $30,000

What is Cost of Goods Sold?

1. A) $57,000


2. B) $77,000


3. C) $127,000


4. D) $147,000