1 Raw materials inventory inchuades only direct materials True False 2. Selected current year company information follows: 15,953 712,855 Net income Net sales Total liabilities, beginning-year.. 83,932 Total liabilities, end-of-year. Total stockholders' equity, beginning-ycar. 198,935 Total stockholders' equity, end-of-ycar..121,851 The total asset turmover is: A 2.24 times B. 2.81 times C. 3.64 times D. 4.67 times 3. A manufacturing company has a beginnipg finished goods inventory of S14,600, raw material purchases of $18,000, cost of goods manufactured of S32,500, and an ending finished goods inventory of $17,800. The cost of goods sold for this company is: A. $21,200. B. $29,300 C. $32,500. D. $27,600. 4Three of the most common tools of financial analysis are: A. Financial reporting, ratio analysis, vertical analysis. B. Ratio analysis, horizontal analysis, financial reporting. C. Horizontal analysis, vertical analysis, ratio analysis. D. Trend analysis, financial reporting, ratio analysis. S. A company's sales in Year 1 were $250,000 and in Year 2 were $287,500. Using Year 1 as the base year, the sales trend percent for Year 2 is: A. 87%. B. 100%. C. 115%. D. 15%. 6. Using the information below for Talking Toys, Inc, determine the manufacturing costs incurred during the year: $12,500 Direct materials used. Goods in process, January 50,000 Goods in process, December 3...37,000 Total Factory overhead Direct labor uscd.26,500 5,500 A. $13,000. B. $44,500. C $57,500 D. $94,500