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The following information is available for the year ended December 31: The following information is available for the year ended December 31: The amount of raw materials used in production for the year is: A) $4,100. B) $5,100. C) $3,500. D) $6,500. E) $4,000. The amount of raw materials used in production for the year is:


A) $4,100.
B) $5,100.
C) $3,500.
D) $6,500.
E) $4,000.

F) B) and E)
G) C) and D)

Correct Answer

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Which of the following items appears only in a manufacturing company's financial statements?


A) Cost of goods sold.
B) Cost of goods manufactured.
C) Goods available for sale.
D) Gross profit.
E) Net income.

F) B) and D)
G) A) and E)

Correct Answer

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Managerial accounting assists in analysis,planning,and control of costs.

A) True
B) False

Correct Answer

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