Consider Derek's budget information: materials to be used totals $64,750; direct labor totals $198,400; factory overhead totals $394,800; work in process inventory January 1,$189,100; and work in progress inventory on December 31,$197,600.What is the budgeted cost of goods manufactured for the year?
A) $649,450
B) $657,950
C) $197,600
D) $1,044,650

Question

Quizplus · Accepted Answer

The budgeted cost of goods manufactured is the sum of direct materials, direct labor, and factory overhead. In this case, the budgeted cost of goods manufactured is $64,750 + $198,400 + $394,800 = $657,950.

Consider Derek's Budget Information: Materials to Be Used Totals $64,750;