Item$10$

$0\mathrm{.}2$points

Time Remaining $1$ hour $8$ minutes $52$ seconds

$01$:$08$:$52$

eBook

Item $10$

Time Remaining $1$ hour $8$ minutes $52$ seconds

$01$:$08$:$52$

In the Schedule of Cost of Goods Manufactured, which of the following statements is true?

Cost of goods manufactured $=$ Total manufacturing costs $+$ Beginning work in process inventory $$ Ending work in process inventory.

Total raw materials available $=$ Ending raw materials inventory $+$ Purchases of raw materials.

Raw materials used in production $=$ Beginning raw materials inventory $+$ Purchases of raw materials $$ Ending raw materials inventory.

Total direct materials $=$ Raw materials used in production $$ Ending raw materials inventory.

Multiple Choice

Both statements I and II are true.

Both statements II and IV are true.

Both statements II and III are true.

Both statements I and III are true.