10) Corp expects to sell 20,000 pool cues for $12.00 each. DM costs are $2.00, DL is $4.00, and O/H is$0.80 per pool cue. The following inventory levels apply to 2016:Beginning inventory Ending inventoryDirect materialsWork-in-process inventoryFinished goods inventory24,000 unitsO units2,000 units24,000 unitsO units2,500 unitsOn the 2016 budgeted income statement, what amount will be reported for sales?11) How many pool cues need to be produced in 2016?12) On the 2016 budgeted income statement, what amount will be reported for cost of goods sold?13) What are the 2016 budgeted costs for 1)direct materials, 2)direct manufacturing labor, and 3)manufacturing overhead, respectively?

Answer : 10) Amount that will be reported for sale budget Amount that will be reported for sale…

Answered: 2,000 units 2,500 units he statement,…

2,000 units 2,500 units he statement, what amount will be reported ed to be produced in 2016? come statement, what amount will be reporte

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

10) Corp expects to sell 20,000 pool cues for $12.00 each. DM costs are $2.00, DL is $4.00, and O/H is
$0.80 per pool cue. The following inventory levels apply to 2016:
Beginning inventory Ending inventory
Direct materials
Work-in-process inventory
Finished goods inventory
24,000 units
O units
2,000 units
24,000 units
O units
2,500 units
On the 2016 budgeted income statement, what amount will be reported for sales?
11) How many pool cues need to be produced in 2016?
12) On the 2016 budgeted income statement, what amount will be reported for cost of goods sold?
13) What are the 2016 budgeted costs for 1)direct materials, 2)direct manufacturing labor, and 3)
manufacturing overhead, respectively?

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