First Class, Inc., expects to sell 22,000 pool cues for $12.00 each. Direct materials costs are $2.00, direct manufacturing labor is $6.00, and manufacturing overhead is $0.83 per pool cue. The following inventory levels apply to 2019: Beginning inventory Ending inventory Direct materials 31,000 units 31,000 units Work-in-process inventory O units O units Finished goods inventory 1,000 units 3,300 units How many pool cues need to be produced in 2019? O A. 25,300 cues O B. 19,700 cues O C. 24,300 cues O D. 23,000 cues

First Class, Inc., expects to sell 22,000 pool cues for $12.00 each. Direct materials costs are $2.00, direct manufacturing labor is $6.00, and manufacturing overhead is $0.83 per pool cue. The following inventory levels apply to 2019: Beginning inventory Ending inventory Direct materials 31,000 units 31,000 units Work-in-process inventory O units O units Finished goods inventory 1,000 units 3,300 units How many pool cues need to be produced in 2019? O A. 25,300 cues O B. 19,700 cues O C. 24,300 cues O D. 23,000 cues

Name: First Class, Inc., expects to sell 22,000 pool cues for $12.00 each.
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Description: First Class, Inc., expects to sell 22,000 pool cues for $12.00 each. Direct materials costs are $2.00, directmanufacturing labor is $6.00, and manufacturing overhead is $0.83 per pool cue. The following inventory levels applyto 2019:Beginning invent

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 8P: Comprehensive The following information for 2019 is available for Marino Company: 1. The beginning...

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Concept explainers

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.

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Question

First Class, Inc., expects to sell 22,000 pool cues for $12.00 each. Direct materials costs are $2.00, direct
manufacturing labor is $6.00, and manufacturing overhead is $0.83 per pool cue. The following inventory levels apply
to 2019:
Beginning inventory
Ending inventory
Direct materials
31,000 units
31,000 units
Work - in- process inventory
Finished goods inventory
0 units
O units
1,000 units
3,300 units
How many pool cues need to be produced in 2019?
O A. 25,300 cues
O B. 19,700 cues
O C. 24,300 cues
O D. 23,000 cues
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