Darke Corporation makes one product and has provided the following information:a.Budgeted unit sales for October, November, and December are 7,600, 9,000, and 10,100 units respectively. b.The ending finished goods inventory equals 40% of the following month's sales. c.Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $1.00 per pound. d.The direct labor wage rate is $19.00 per hour. Each unit of finished goods requires 3.0 direct labor-hours. e.Manufacturing overhead is entirely variable and is $11.00 per direct labor-hour. The estimated finished goods inventory balance at the end of November is closest to:
A. $133,320
B. $383,800
C. $294,920
D. $250,480
Answer: B
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Which of the following best sums up the experience of Walt Disney Company executives when creating Disney's theme park in Paris?
A) They were guided by the "think global, act local" principle. B) They fell victim to the self-reference criterion. C) They exhibited a geocentric management orientation. D) They miscalculated the rate of diffusion of innovations in Europe. E) They had an unbiased perception of existing culture in Europe.
The philosophy of law can also be referred to as:
A) due process. B) equal protection. C) Magna Carta. D) jurisprudence.
[The following information applies to the questions displayed below.] Sanchez Company engaged in the following transactions during Year 1: 1) Started the business by issuing $42,000 of common stock for cash. 2) The company paid cash to purchase $26,400 of inventory. 3) The company sold inventory that cost $16,000 for $30,600 cash. 4) Operating expenses incurred and paid during the year, $14,000. Sanchez Company engaged in the following transactions during Year 2: 1) The company paid cash to purchase $35,200 of inventory. 2) The company sold inventory that cost $32,800 for $57,000 cash. 3) Operating expenses incurred and paid during the year, $18,000. Note: Sanchez uses the perpetual inventory system.What is Sanchez's gross margin for Year 2?
A. $6,200 B. $24,200 C. $32,800 D. $21,800
Unrealized Loss?Equity and Unrealized Gain?Equity are permanent equity accounts.
Answer the following statement true (T) or false (F)