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Assume the Following Information: Direct Materials Used

Question 3

Multiple Choice

Assume the following information: Direct materials used
£ 90,000
Direct labour
130,000
Factory overhead
150,000
Beginning work-in-progress inventory
15,000
Beginning finished goods inventory
20,000
Ending work-in-progress inventory
42,000
Selling and administrative expenses
37,500
What was the cost of goods manufactured during the year?


A) £370,000
B) £365,000
C) £343,000
D) £333,000

Correct Answer:

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