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Highline Company Reported the Following Costs for the Year Just

Question 64

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Highline Company reported the following costs for the year just ended:  Throughput manufacturing costs $180,000 Non-throughput manufacturing costs 600,000 Selling and administrative costs 125,000\begin{array} { | l | r | } \hline \text { Throughput manufacturing costs } & \$ 180,000 \\\hline \text { Non-throughput manufacturing costs } & 600,000 \\\hline \text { Selling and administrative costs } & 125,000 \\\hline\end{array} If Highline uses throughput costing and had sales revenues for the period of $950,000, which of the following choices correctly depicts the company's cost of goods sold and net income?  Cost of Goods Sold  Net Income 1$180,000$45,0002$180,000$645,0003$305,000$45,0004$305,000$645,0005$305,000$305,000\begin{array} { | l | c | c | c | } \hline & \text { Cost of Goods Sold } & & \text { Net Income } \\\hline 1 & \$ 180,000 & & \$ 45,000 \\\hline 2 & \$ 180,000 & & \$ 645,000 \\\hline 3 & \$ 305,000 & & \$ 45,000 \\\hline 4 & \$ 305,000 & & \$ 645,000 \\\hline 5 & \$ 305,000 & & \$ 305,000 \\\hline\end{array}


A) 1
B) 2
C) 3
D) 4
E) 5

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