Benton Mills manufactures fine linens. The following selected financial information for the fiscal year 2024 is provided: Item Sales Cost of Goods Manufactured Amount $120,000 $88,000 $48,000 $12,000 $46,000 $10,000 Direct Material Purchased Factory Overhead Work in Process - January 1 Direct Material - December 31 Finished Goods Inventory - December 31 $65,000 Net Income Direct Materials Used Cost of Goods Sold $18,000 $36,000 $67,000 Use this information to determine the dollar amount of Benton's Direct Labor Costs for the fiscal year.

Benton Mills manufactures fine linens. The following selected financial information for the fiscal year 2024 is provided: Item Sales Cost of Goods Manufactured Amount $120,000 $88,000 $48,000 $12,000 $46,000 $10,000 Direct Material Purchased Factory Overhead Work in Process - January 1 Direct Material - December 31 Finished Goods Inventory - December 31 $65,000 Net Income Direct Materials Used Cost of Goods Sold $18,000 $36,000 $67,000 Use this information to determine the dollar amount of Benton's Direct Labor Costs for the fiscal year.

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 5E: Prepare a cost of goods sold budget for MacLaren Manufacturing Inc. for the year ended December 31,...

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