Question
QElton, Inc., expects to sell 6,000 ceramic vases for $40 each. Direct materials costs are $4, direct manufacturing labor is $20, and manufacturing overhead is
QElton, Inc., expects to sell 6,000 ceramic vases for $40 each. Direct materials costs are $4, direct manufacturing labor is $20, and manufacturing overhead is $6 per vase. The following inventory levels apply to 2016: Beginning inventory Ending inventory Direct materials 1,000 units 1,000 units Work-in-process inventory 0 units 0 units Finished goods inventory 500 units 400 units
What are the 2016 total budgeted manufacturing costs for direct materials, direct manufacturing labor, and manufacturing overhead, respectively?
$24,000; $120,000; $36,000
$4,000; $20,000; $6,000
$23,600; $118,000; $35,400
$4,000; $0; $9,000
On the 2016 budgeted income statement, what amount will be reported for cost of goods sold?
$180,000 | ||
$183,000 | ||
$210,000 | ||
$177,000 |
How many ceramic vases need to be produced in 2016?
6,000 vases | ||
7,000 vases | ||
6,100 vases | ||
5,900 vases |
On the 2016 budgeted income statement, what amount will be reported for sales?
$280,000 | ||
$236,000 | ||
$240,000 | ||
$244,000
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started