# 20. Cost of goods sold is calculated to be: A. \$890,000. B. \$896,000. C. \$883,000. D. \$877,000. E…

20.
Cost of goods sold is calculated to be:
A.
\$890,000.

B.
\$896,000.
C.
\$883,000.
D.
\$877,000.
E.
\$870,000.

The following information was taken from
the accounting records of Elliott Manufacturing Corp. Unfortunately, some of
the data were destroyed by a computer malfunction.
.0/msohtmlclip1/01/clip_image001.jpg”>

22.
Cost of goods sold is calculated to be:
A.
\$32,000.

B.
\$30,000.
C.
\$33,000.
D.
\$38,000.
E.
\$27,000.

23.
Cost of goods manufactured is calculated
to be:
A.
\$32,000.

B.
\$30,000.
C.
\$33,000.
D.
\$38,000.
E.
\$27,000.

24.
calculated to be:
A.
\$4,000.

B.
\$9,000.
C.
\$11,000.
D.
\$12,000.
E.
\$16,000.

25.
Work in process inventory, beginning, is
calculated to be:
A.
\$4,000.
B.
\$9,000.
C.
\$11,000.
D.
\$12,000.
E.
\$16,000.

The
following data pertains to Lam Co.’s manufacturing operations:
.0/msohtmlclip1/01/clip_image002.jpg”>

information for the month of April:
.0/msohtmlclip1/01/clip_image003.jpg”>

applied at \$12 per direct labor hour.

26.
For the month of April, prime cost
incurred was:
A.
\$75,000.

B.
\$66,000.
C.
\$65,000.
D.
\$62,000.

27.
For the month of April, conversion cost
incurred was:
A.
\$75,000.

B.
\$66,000.
C.
\$70,000.
D.
\$39,000.

28.
The three attributes of cost information
include accuracy, timeliness, and
A.
reliability.

B.
relevance.
C.
cost-benefit.
D.
understandability.

29.
When cost relationships are linear,
total variable costs will vary in proportion to changes in:
A.
Direct labor hours.

B.
Total material cost.
C.
D.
Volume of production.
E.
Machine hours.

30.
The term relevant range as used in cost
accounting means the range over which:
A.
Costs may fluctuate.

B.
Cost relationships are
approximately linear.
C.
Production may vary.
D.
Relevant costs are
incurred.