Answer the following questions using the information below:

-What is cost of goods manufactured for 20X5?
A)$257,000
B)$350,000
C)$243,000
D)$250,000

Question

Answer the following questions using the information below:
 
-What is cost of goods manufactured for 20X5?
A)$257,000 
B)$350,000 
C)$243,000 
D)$250,000

Quizplus · Accepted Answer

The cost of goods manufactured for 20X5 is calculated by subtracting the total cost of goods completed in the previous year (20X4) from the total manufacturing costs for the current year (20X5). 
Total manufacturing costs for 20X5 are given as $273,000, and the total cost of goods completed in 20X4 is given as $30,000. Therefore, the cost of goods manufactured for 20X5 is:
273,000 - 30,000 = $243,000
So, the correct answer is C.

Answer the Following Questions Using the Information Below