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 O 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? S24,000; $120,000; S36,000 S4,000; S20,000; S6,000 S23,600; $118,000; $35,400 $4,000; SO; $9,000 On the 2016 budgeted income statement, what amount will be reported for cost of goods sold? S180,000 $183,000 S210,000 $177,000

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 O 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? S24,000; $120,000; S36,000 S4,000; S20,000; S6,000 S23,600; $118,000; $35,400 $4,000; SO; $9,000 On the 2016 budgeted income statement, what amount will be reported for cost of goods sold? S180,000 $183,000 S210,000 $177,000

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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Cap Incorporated manufactures ball point pens that sell at wholesale for $0.80 per unit. Budgeted production in both 2021 and 2022 was 13,000 units. There was no beginning inventory in 2021. The following data summarized the 2021 and 2022 operations: 2021 2022 Units sold 11,500 12,000 Units produced 13,000 13,000 Costs: Variable factory overhead per unit $ 0.15 $ 0.15 Fixed factory overhead $ 2,600 $ 2,600 Variable marketing per unit $ 0.30 $ 0.30 Fixed Selling and Administrative $ 320 $ 320 Full costing operating income for 2022 is calculated to be: (Do not round intermediate calculations. Round your final answers to whole dollar amounts.) Multiple Choice $1,480. $214. $2,150. $1,700. $1,518.
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