405 LOG MCQ. Question. 1 CLO (2) 6 marks NOTE: Score will be given ONLY for the practical work. at the end of the period. The change in inventory of Direct- Material represents 13% of the Net 1. The beginning inventory of DM amounted to 450,000 which constitute 90% of DM inventory $360,000. The total manufacturing cost is: Purchase. The Direct Labor Cost equals 43% of the prime cost, the fixed costs cost amounted to a. 587,044 b. 334,615 947,044 500,000 d. None of the above 35% e. 2.The Atlas Enterprise has maintained a gross profit margin of 35 percent against gross sales of S 50,000,000. Sales discounts equals 8 percent of gross sales. 70 percent of goods produced have been sold and the remaining is kept as finished goods. The total manufacturing cost is: 29,700,000 TMC- COGS + Ending Inventory 12,814,000 32,500,000+ 15,000,000 42,714,286 TM C= 4,7,500,000 None of the above f 8. h. 3. The accounting records of Ajman Enterprise shows the following: Amount WIP (End of 2020) 8,000,000 WIP (End of 2021) 9,000,000 D. material used 42,000,000 Direct labor cost 16,000,000 Overheads 17,000,000 total cest Cost of goods manufactured for 2021 is built around the ratio respectively of: a) 89% Gouh IM f for 2017 is bulan nie COG Manf = 8,000,000+ 42pooor - + 16100.000 +1,000 on =$3,0091000 - 9,00 b) 80% c) 82% d) None of the above