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Consider Derk's budget information: materials to be used totals $62,100; direct labor totals $199,900; factory overhead totals $402,700; work in process inventory January 1, $188,800; and work in progress inventory on December 31, $194,100. What is the budgeted cost of goods manufactured for the year? a.$853,500 b.$664,700 c.$659,400 d.$194,100

Consider Derk's budget information: materials to be used totals $62,100; direct labor totals $199,900; factory overhead totals $402,700; work in process inventory January 1, $188,800; and work in progress inventory on December 31, $194,100. What is the budgeted cost of goods manufactured for the year? a.$853,500 b.$664,700 c.$659,400 d.$194,100

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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Consider Derk's budget information: materials to be used totals $62,100; direct labor totals $199,900; factory overhead totals $402,700; work in process inventory January 1, $188,800; and work in progress inventory on December 31, $194,100. What is the budgeted cost of goods manufactured for the year?

a.$853,500
b.$664,700
c.$659,400
d.$194,100
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