For last year, L. Mosely Manufacturing reported the following:Revenue$420,000Beginning inventory of direct materials, January 122,000Purchases of direct materials146,000Ending inventory of direct materials, December 3116,000Direct manufacturing labor18,000Indirect manufacturing costs40,000Beginning inventory of finished goods, January 135,000Cost of goods manufactured104,000Ending inventory of finished goods, December 3136,000Operating costs140,000How much of the above would be considered budgeted period costs ?O A. $140,000O B. $246,000O C. $390,000O D. $104,000

Period costs are those costs which are expensed as and when incurred. These costs are costs which…

r last year, L. Mosely Manufacturing reported the following: $420,000 venue ginning inventory of direct materials, January 1 22,000 rchases of direct materials 146,000 ding inventory of direct materials, December 31 16,000 rect manufacturing labor 18,000 direct manufacturing costs 40,000 ginning inventory of finished goods, January 1 35,000 -st of goods manufactured 104,000 ding inventory of finished goods, December 31 36,000 perating costs 140,000

r last year, L. Mosely Manufacturing reported the following: $420,000 venue ginning inventory of direct materials, January 1 22,000 rchases of direct materials 146,000 ding inventory of direct materials, December 31 16,000 rect manufacturing labor 18,000 direct manufacturing costs 40,000 ginning inventory of finished goods, January 1 35,000 -st of goods manufactured 104,000 ding inventory of finished goods, December 31 36,000 perating costs 140,000

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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