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Assuming a Separate Schedule of Cost of Goods Manufactured, Which

Question 81
Multiple Choice

Assuming a separate schedule of cost of goods manufactured, which of the following is found on a manufacturer's income statement? A) direct labour B) direct materials C) work-in-process D) cost of goods sold

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Q 82
What three categories separate the expenses on a manufacturer's income statement? A) variable, fixed, and direct B) production, period, and indirect C) production, selling, and administrative D) materials, work-in-process, and finished goods
Q 83
Which statement best describes cost of goods sold? A) Cost of goods sold is the total product cost on the balance sheet. B) Cost of goods sold is a cost that should generally be more than the revenue. C) Cost of goods sold is the total product cost for the units sold during a period. D) Cost of goods sold is generally recorded as soon as products are manufactured.
Q 84
Blue Water Inc. had a gross margin for the month of February totalling $92,000. The company sold 6,000 units during the month at a sales price of $30 per unit. What was the amount of cost of goods sold for the month? A) $42,000 B) $88,000 C) $100,000 D) $158,000
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