The Richards Company Manufactures a Single Product

Multiple Choice

The Richards Company manufactures a single product. All raw materials used are traceable to specific units of product. Current information for the Richards Company follows: The company's cost of raw materials used, cost of goods manufactured and cost of goods sold is:

A) Cost of Materials Used = $90,000 Cost of Goods Manufactured = $293,000
Cost of Goods Sold = $283,000
B) Cost of Materials Used = $92,000 Cost of Goods Manufactured = $293,000
Cost of Goods Sold = $303,000
C) Cost of Materials Used = $88,000 Cost of Goods Manufactured = $263,000
Cost of Goods Sold = $283,000
D) Cost of Materials Used = $88,000 Cost of Goods Manufactured = $293,000
Cost of Goods Sold = $303,000
E) Cost of Materials Used = $92,000 Cost of Goods Manufactured = $263,000
Cost of Goods Sold = $293,000