The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year: The Cost of Goods Manufactured was:
A) $20,700
B) $22,500
C) $43,200
D) $9,300

Question

The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year:       The Cost of Goods Manufactured was:
A) $20,700 
B) $22,500 
C) $43,200 
D) $9,300

Quizplus · Accepted Answer

To calculate the Cost of Goods Manufactured, we need to find the total amount of manufacturing costs incurred during the year, which includes all direct and indirect costs associated with producing finished goods.

From the T-accounts provided, we can see that the direct materials used were $12,000, direct labor was $6,000, and manufacturing overhead was $4,500, for a total of $22,500 in manufacturing costs.

Therefore, the Cost of Goods Manufactured for Faaberg Corporation during the year was $22,500.

The Following Partially Completed T-Accounts Summarize Transactions for Faaberg Corporation