Cost of goods manufactured is calculated as follows: a. Beginning WIP + direct materials used + direct labor + manufacturing overhead + ending WIP.
b. Direct materials used + direct labor + manufacturing overhead - beginning WIP + ending WIP.
c. Beginning WIP + direct materials used + direct labor + manufacturing overhead - ending WIP.
d. Direct materials used + direct labor + manufacturing overhead - ending WIP - beginning WIP.
Correct Answer:
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