ACCT
EXAM QUESTIONS AND
VERIFIED CORRECT
ANSWERS GRADED A+
LATEST 100% GUARANTEED
PASS
a. the product completes the manufacturing process.
b. the order is received for the product.
c. the product is sold.
d. raw materials for the product are purchased.
a. $22,500 - CORRECT ANSWER-Super Tread Inc. is a large manufacturer of auto tires. Super
Tread has provided the following information:
Sales Revenue $55,000
Beginning Finished Goods Inventory 15,500
Cost of Goods Sold 37,500
Cost of Goods Manufactured 44,500
Calculate the amount of ending Finished Goods Inventory reported on Super Tread's balance
sheet.
a. $22,500
b. $10,500
, c. $60,000
d. $7,000
c. $1,135,000 - CORRECT ANSWER-Payton Corporation provided the following information for
the year:
Beginning Balance - Work-in-Process Inventory $26,000
Ending Balance - Work-in-Process Inventory 55,000
Beginning Balance - Direct Materials
81,000
Ending Balance - Direct Materials 59,000
Purchases - Direct Materials 360,000
Direct Labor 471,000
Indirect Labor 19,000
Depreciation on Factory Plant and Equipment 24,000
Plant Utilities and Insurance 268,000
What was the amount of the cost of goods manufactured for the year?
a. $1,363,000
b. $1,193,000
c. $1,135,000
d. $1,164,000
c. $86,620 - CORRECT ANSWER-The following relates to Harrison, Inc:
EXAM QUESTIONS AND
VERIFIED CORRECT
ANSWERS GRADED A+
LATEST 100% GUARANTEED
PASS
a. the product completes the manufacturing process.
b. the order is received for the product.
c. the product is sold.
d. raw materials for the product are purchased.
a. $22,500 - CORRECT ANSWER-Super Tread Inc. is a large manufacturer of auto tires. Super
Tread has provided the following information:
Sales Revenue $55,000
Beginning Finished Goods Inventory 15,500
Cost of Goods Sold 37,500
Cost of Goods Manufactured 44,500
Calculate the amount of ending Finished Goods Inventory reported on Super Tread's balance
sheet.
a. $22,500
b. $10,500
, c. $60,000
d. $7,000
c. $1,135,000 - CORRECT ANSWER-Payton Corporation provided the following information for
the year:
Beginning Balance - Work-in-Process Inventory $26,000
Ending Balance - Work-in-Process Inventory 55,000
Beginning Balance - Direct Materials
81,000
Ending Balance - Direct Materials 59,000
Purchases - Direct Materials 360,000
Direct Labor 471,000
Indirect Labor 19,000
Depreciation on Factory Plant and Equipment 24,000
Plant Utilities and Insurance 268,000
What was the amount of the cost of goods manufactured for the year?
a. $1,363,000
b. $1,193,000
c. $1,135,000
d. $1,164,000
c. $86,620 - CORRECT ANSWER-The following relates to Harrison, Inc:
