Assume the following information pertaining to Moonbeam Company: Beginning Ending Finished goods inventory $ 148,000 $ 140,200 Work in process inventory 97,000 119,000 Direct materials 132,000 147,400 Costs incurred during the period are as follows: Total manufacturing costs $ 920,000 Factory overhead 211,000 Direct materials used 166,200 Cost of goods sold is calculated to be:

$905,800

Explanation:

Calculation for Cost of goods sold

Total manufacturing costs $ 920,000

Add Begining Work in process inventory 97,000

Less Ending Work in process inventory (119,000)

Cost of goods manufactured $898,000

Add Begining Finished goods inventory $148,000

Less Ending Finished goods inventory$ (140,200)

Cost of goods sold $905,800

Therefore the Cost of goods sold is calculated to be: $905,800

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

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