QUESTION 11

1. Use the same information given in Question 9. How much cost of goods sold is recognized when?

   	A.	$300 in January and $200 in February
   	B.	$500 in February
   	C.	$500 in March
   	D.	$800 in February
   	E.	$800 in March

4 points

QUESTION 12

1. (11) The following data (in thousands of dollars) have been taken from the accounting records of Karmana Corporation for the just completed year.

   Sales	$950
   Raw materials (all direct) purchases	$200
   Direct labor	$180
   Manufacturing overhead	$230
   Administrative expenses	$100
   Selling expenses Raw materials (all direct), beginning Raw materials (all direct), ending	$140 $270 $300
   Work in process inventory, beginning	$70
   Work in process inventory, ending	$40
   Finished goods inventory, beginning	$100
   Finished goods inventory, ending	$80

   The cost of goods manufactured for the year (in thousands of dollars) was:_______

   	A.	$540
   	B.	$710
   	C.	$600
   	D.	$610