ACCOUNTING
Multiple Choice
Daniel, Inc. expects to manufacture and sell 6,000 ceramic vases for $20 each. Direct materials costs are $2, direct manufacturing labor is $10, and manufacturing overhead is $3 per vase. The following inventory levels apply to 20x4:
Beginning inventory Ending inventory
Direct materials 1,000 units 1,000 units
Work-in-process inventory 0 units 0 units
Finished goods inventory 400 units 500 units
On the 20x4 budgeted income statement, what amount will be reported for sales?
a. $122,000
b. $118,000
c. $140,000
d. $120,000
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