In the Schedule of Cost of Goods Manufactured and Cost of Goods Sold, the cost of goods manufactured is computed according to wh
ich of the following equations? a) Cost of goods manufactured = Total manufacturing costs + Beginning finished goods inventory – Ending finished goods inventory
b) Cost of goods manufactured = Total manufacturing costs + Beginning work in process inventory – Ending work in process inventory
c) Cost of goods manufactured = Total manufacturing costs + Ending work in process inventory – Beginning work in process inventory
d) Cost of goods manufactured = Total manufacturing costs + Ending finished goods inventory – Beginning finished goods inventory
Cost of goods manufactured = Total manufacturing costs + Beginning work in process inventory – Ending work in process inventory
Explanation:
Cost of goods sold is the total direct costs of producing the goods sold by a company.
Cost of goods sold = cost of direct materials + cost of direct labour + Manufacturing Overhead + Beginning work in process inventory – Ending work in process inventory
If a government is trying to encourage economic growth, they would do all of these things except raise taxes. Raising taxes has the opposite effect and will slow growth because it takes more money out of the economy that could be used for growth and expansion.
