TEST QUESTIONS:
Questions 1-3 refer to the following:
The following selected data for March were taken from Rubenstein
Company\\\'s financial statements:
Cost of goods available for sale Manufacturing overhead
Cost of goods manufactured
Finished goods inventory ‑ ending
Direct materials used
Sales
Selling and administrative expenses
Direct labor
Work in process inventory ‑ beginning
$ 65,000
20,000
51,000
10,000
15,000
105,000
30,000
20,000
0
1. The gross margin was:
1. $55,000.
2. $54,000.
3. $50,000.
4. $40,000.
2. The beginning finished goods inventory was:
1. $24,000.
2. $ 9,000.
3. $10,000.
4. $14,000.
3. The ending work in process inventory was:
1. $ 4,000.
2. $ 8,000.
3. $10,000.
4. $0.
4. Farber Company uses a job order cost system. The information below is from the financial records of the company for last year:
Total manufacturing costs $2,500,000
Cost of goods......
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