Examlex

Solved

Benson Inc During 2017, Benson Purchased $1,450,000 of Raw Materials, Incurred Direct

question 62

Multiple Choice

Benson Inc.'s accounting records reflect the following inventories:  Dec. 31,2016 Dec. 31,2017 Raw materials inventory $80,000$64,000 Work in process inventory 104,000116,000 Finished goods inventory 100,00092,000\begin{array}{lrr}& \text { Dec. 31,2016}& \text { Dec. 31,2017}\\\text { Raw materials inventory } & \$ 80,000 & \$ 64,000 \\\text { Work in process inventory } & 104,000 & 116,000 \\\text { Finished goods inventory } & 100,000 & 92,000\end{array} During 2017, Benson purchased $1,450,000 of raw materials, incurred direct labor costs of $250,000, and incurred manufacturing overhead totaling $160,000.
How much is total manufacturing costs incurred during 2017 for Benson?


Definitions:

Diverse Products

A range of products that vary significantly in their functions, uses, or characteristics, catering to different consumer needs or preferences.

Electrolux

A global leading company in home and professional appliances, known for its innovative and sustainably designed products.

Globalization

The approach used by enterprises or different entities to expand their influence internationally or to commence activities on a worldwide level.

Leadership Challenges

The set of hurdles, obstacles, or difficulties that leaders must overcome to effectively guide their teams or organizations towards achieving goals.

Related Questions