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The information below relates to Derby Manufacturing Company's operations for a recent month. (Assume that all raw materials are direct materials): Purchases of raw materials $91,000 Direct labor cost $122,000 Selling costs (total) $42,000 Administrative costs (total) $56,000 Manufacturing overhead costs (total) $340,000 Raw materials inventory, beginning $22,000 Work in process inventory, beginning $27,000 Finished goods inventory, beginning Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $42,000 $7,000 $35,000 $15,000 What was Derby's cost of goods manufactured for the month? a. $545,000 b. $560,000 c. $568,000 d. $587,000 Bunni, Inc. has prepared the following budgets for March. In March, budgeted production equals budgeted sales, and raw materials inventory will stay constant. Direct materials Direct labor Manufacturing overhead $4,400 $8,000 $10,300 Selling and administrative expense $8,600 What is the budgeted cost of goods sold for March? A. $31,300 B. $21,000 C. $22,700 D. $12,400

The information below relates to Derby Manufacturing Company's operations for a recent month. (Assume that all raw materials are direct materials): Purchases of raw materials $91,000 Direct labor cost $122,000 Selling costs (total) $42,000 Administrative costs (total) $56,000 Manufacturing overhead costs (total) $340,000 Raw materials inventory, beginning $22,000 Work in process inventory, beginning $27,000 Finished goods inventory, beginning Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $42,000 $7,000 $35,000 $15,000 What was Derby's cost of goods manufactured for the month? a. $545,000 b. $560,000 c. $568,000 d. $587,000 Bunni, Inc. has prepared the following budgets for March. In March, budgeted production equals budgeted sales, and raw materials inventory will stay constant. Direct materials Direct labor Manufacturing overhead $4,400 $8,000 $10,300 Selling and administrative expense $8,600 What is the budgeted cost of goods sold for March? A. $31,300 B. $21,000 C. $22,700 D. $12,400

FINANCIAL ACCOUNTING
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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The information below relates to Derby Manufacturing Company's operations for a recent month. (Assume that all raw materials are direct materials): Purchases of raw materials $91,000 Direct labor cost $122,000 Selling costs (total) $42,000 Administrative costs (total) $56,000 Manufacturing overhead costs (total) $340,000 Raw materials inventory, beginning $22,000 Work in process inventory, beginning $27,000 Finished goods inventory, beginning Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $42,000 $7,000 $35,000 $15,000 What was Derby's cost of goods manufactured for the month? a. $545,000 b. $560,000 c. $568,000 d. $587,000 Bunni, Inc. has prepared the following budgets for March. In March, budgeted production equals budgeted sales, and raw materials inventory will stay constant. Direct materials Direct labor Manufacturing overhead $4,400 $8,000 $10,300 Selling and administrative expense $8,600 What is the budgeted cost of goods sold for March? A. $31,300 B. $21,000 C. $22,700 D. $12,400
Transcribed Image Text:The information below relates to Derby Manufacturing Company's operations for a recent month. (Assume that all raw materials are direct materials): Purchases of raw materials $91,000 Direct labor cost $122,000 Selling costs (total) $42,000 Administrative costs (total) $56,000 Manufacturing overhead costs (total) $340,000 Raw materials inventory, beginning $22,000 Work in process inventory, beginning $27,000 Finished goods inventory, beginning Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $42,000 $7,000 $35,000 $15,000 What was Derby's cost of goods manufactured for the month? a. $545,000 b. $560,000 c. $568,000 d. $587,000 Bunni, Inc. has prepared the following budgets for March. In March, budgeted production equals budgeted sales, and raw materials inventory will stay constant. Direct materials Direct labor Manufacturing overhead $4,400 $8,000 $10,300 Selling and administrative expense $8,600 What is the budgeted cost of goods sold for March? A. $31,300 B. $21,000 C. $22,700 D. $12,400
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