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irst Class, Inc., expects to sell 22,000 pool cues for $12 each. Direct materials costs are $3, direct manufacturing labor is $4, and manufacturing overhead is $0.84 per pool cue. The following inventory levels apply to 2020:                                                                 Beginning inventory        Ending inventory         Direct materials                                           33,000 units                   33,000 units         Work-in-process inventory                                0 units                             0 units         Finished goods inventory

irst Class, Inc., expects to sell 22,000 pool cues for $12 each. Direct materials costs are $3, direct manufacturing labor is $4, and manufacturing overhead is $0.84 per pool cue. The following inventory levels apply to 2020:                                                                 Beginning inventory        Ending inventory         Direct materials                                           33,000 units                   33,000 units         Work-in-process inventory                                0 units                             0 units         Finished goods inventory

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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First Class, Inc., expects to sell 22,000 pool cues for $12 each. Direct materials costs are $3, direct manufacturing labor is $4, and manufacturing overhead is $0.84 per pool cue. The following inventory levels apply to 2020:

 

                                                              Beginning inventory        Ending inventory

        Direct materials                                           33,000 units                   33,000 units

        Work-in-process inventory                                0 units                             0 units

        Finished goods inventory                           1,400 units                     2,500 units

 

On the 2020 budgeted income statement, what amount will be reported for sales?

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