Question: 1. First Class, Inc., expects to sell 26,000 pool cues for $14 each. Direct materials costs are $2, direct manufacturing labor is $4, and manufacturing

1. First Class, Inc., expects to sell 26,000 pool cues for $14 each. Direct materials costs are $2, direct manufacturing labor is $4, and manufacturing overhead is $0.89 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 0 units 0 units Finished goods inventory 1,800 units 3,300 units On the 2019 budgeted income statement, what amount will be reported for cost of goods sold?

$201,877

$189,475

$168,805

$179,140

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

You have been employed as a consultant to Golf R Us, Inc. The company has been having problems with account receivables and they want to use various dunning methods to better their receivables. But...

First Class, Inc., expects to sell 30,000 pool cues for $13 each. Direct materials costs are $2, direct manufacturing labor is $6, and manufacturing overhead is $0.89 per pool cue. The following...

First Class, Inc., expects to sell 20,000 pool cues for $13.00 each. Direct materials costs are $4.00, direct manufacturing labor is $6.00, and manufacturing overhead is $0.81 per pool cue. The...

First Class, Inc., expects to sell 22,000 pool cues for $13 each. Direct materials costs are $2, direct manufacturing labor is $4, and manufacturing overhead is $0.87 per pool cue. The following...

First Class, Inc., expects to sell 23,000 pool cues for $14 each. Direct materials costs are $2, direct manufacturing labor is $4, and manufacturing overhead is $0.82 per pool cue. The following...

First Class, Inc., expects to sell 26,000 pool cues for $14 each. Direct materials costs are $2, direct manufacturing labor is $4, and manufacturing overhead is $0.89 per pool cue. The following...

) First Class, Inc., expects to sell 28,000 pool cues for $14 each. Direct materials costs are $3, direct manufacturing labor is $5, and manufacturing overhead is $0.82 per pool cue. The following...

5) First Class, Inc., expects to sell 30,000 pool cues for $14 each. Direct materials costs are $4, direct manufacturing labor is $5, and manufacturing overhead is $0.89 per pool cue. The following...

First Class, Inc., expects to sell 28,000 pool cues for $14 each. Direct materials costs are $3, direct manufacturing labor is $5, and manufacturing overhead is $0.82 per pool cue. The following...

First Class, Inc., expects to sell 21,000 pool cues for $14 each. Direct materials costs are $4, direct manufacturing labor is $4, and manufacturing overhead is $0.83 per pool cue. The following...

First Class, Inc., expects to sell 28,000 pool cues for $14 each. Direct materials costs are $3, direct manufacturing labor is $5, and manufacturing overhead is $0.82 per pool cue. The following...

The production function for Patty's Pizza Parlor is given in the table in Problem 3. The price of pizza is $2, but the hourly wage rate rises from $10 to $15. Use a diagram to determine how Patty's...

Inventoriable CostsError Adjustments Werth Company asks you to review its December 31, 2010, inventory values and prepare the necessary adjustments to the books. The following information is given to...

From the employer's perspective, which of the following is a challenge of paying employees Multiple Choice Employee self - maintenance of personnel records. A chance that the employee will lose their...

Each individual can only be assigned one role. a. True b. False

3 How can reward and motivational systems be successfully employed in international joint ventures in order to meet the needs and aspirations of an indigenous workforce?

2 To what extent are Western HRM principles and practices being applied in Chinese enterprises, and how successful are these? How do they contrast with Chinese indigenous approaches, and to what...

1 Is there a relationship between cultural values in specific countries (e.g. collectivism, power distance, instrumentalism, humanism) and the way (indigenous) organizations respond to changes in...