Which of the following items does not represent a difference between financial and managerial accounting? O O Multiple Choice Users of the information. Flexibility of reporting Timeliness of information. Focus of the information 4 Managerial accounting does not use the financial information from the financial accounting system. The schedule of cost of goods manufactured is divided into four parts consisting of all of the following except Multiple Choice O Direct materials. Computation of cost of goods sold. O Overhead. Computation of cost of goods manufactured. Direct labor A manufacturing firm's cost of goods manufactured is equivalent to a merchandising firm's: Multiple Choice Cost of goods sold. Cost of goods purchased. Cost of goods available. Beginning merchandise inventory. O Ending merchandise inventory. Total manufacturing costs incurred during the year do not include: Multiple Choice O Direct materials used. Factory supplies used. Work in Process inventory, beginning balance. Direct labor. Depreciation of factory machinery. Mustang Corporation has accumulated the following accounting data for the month of April: Finished goods inventory, April 1 Finished goods inventory, April 30 Total cost of goods manufactured $ 33,100 27,000 125,600 The cost of goods sold for the year is: Multiple Choice $180,900. $119,500. $65.500. $131,700. $158,700. Using the information below, calculate cost of goods sold for the period: Sales revenues for the period Operating expenses for the period Finished Goods Inventory, January 1 $1,308,000 243,000 40,000 45,000 Cost of goods manufactured for the period 544,000 Finished Goods Inventory, December 31 Multiple Choice $782,000 $777,000. $526,000. $539,000 $436,000. The following information is available for the year ended December 31: Beginning raw materials inventory $3,400 Raw materials purchases 4,900 Ending raw materials inventory 3,900 office supplies expense 1,900 The amount of raw materials used in production for the year is: Multiple Choice $5,000 $4,900. $8,300 $6,900 $4,400. Using the information below for Sundar Company, determine the cost of goods manufactured during the current year: Direct materials used $19,200 Direct labor used 24,700 Factory overhead 54,100 Beginning work in process 10,900 Ending work in process. 11,500 Multiple Choice O O $98,000 $43.900 $97,400. $43,300 $78,200 Using the information below for Singing Dolls, Inc., determine cost of goods manufactured for the year: Work in Process, January 1 Work in Process, December 31 $54,000 39,000 Total Factory overhead 7,500 Direct materials used Direct labor used 14,500 28,500 Multiple Choice O $65,500. $104,500. $50,500. $15,000. O $58,000. Using the information below, calculate gross profit for the period. sales revenues for the period Operating expenses for the period Finished Goods Inventory, January 1 $1,364,000 245,000 36,600 Finished Goods Inventory, December 31 41,600 Cost of goods manufactured for the period 570,000 Multiple Choice $804,000. $799,000. $560,000. $565,000 $470,800.