2.00 points MC Qu. 40 The following Information relates to Minima.. The followin

Question

2.00 points MC Qu. 40 The following Information relates to Minima.. The following information relates to Minimart's 2012 accounting period Raw materials used Direct labor wages and salaries Sales salaries Depreciation on manufacturing equipment Rest on manufacturing facilities Administraive sugplics and ublitics $17,000 33,000 25,000 3,000 4,000 ,000 105,000 4,000 4,000 Sales revenuc Units of prodacts prodused Units of products sold Minimarts work in process invenitory at the beginning of 2012 was $ 2000 and work in process inventory at the end of 2012 was $10,000 Minimarts cost of goods manufactured in 2012 equat O $77000 O $89000 O $59.000 O $52.000

Explanation / Answer

Manufacturing cost in current accounting year :

= Raw Material used + Direct Labour & wages +Depreciation on manufacturing equipment + Rent on manufacturing facilities = $17,000 + $33,000 + $3,000 + $4,000 = $57,000

Cost of Goods Manufactured :

Manufacturing cost in current accounting year + Beginning work-in-process inventory - Ending work-in-process inventory. = $57,000 + $12,000 - $10,000 = $59,000 (option C)

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