Use the Information Below to Answer the Following Question(s)

question 106

Multiple Choice

Use the information below to answer the following question(s) .
Konrade Inc.expects to sell 30,000 athletic uniforms for $80 each in 2016.Direct materials costs are $20,direct manufacturing labour is $8,and manufacturing overhead is $6 for each uniform.Each uniform requires 2.0 square metres (sq.m. ) of material which is all added at the start of production.The following inventory levels are expected to apply to 2016:

-What is the amount budgeted for cost of goods manufactured in 2016?

• A)$1,020,000
• B)$986,000
• C)$1,156,000
• D)$1,190,000
• E)$1,054,000

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Definitions:

Oligopolistic Industries

Sectors characterized by a small number of large firms that have significant control over market prices and competition.

Differentiated Products

Goods or services that are distinguished from similar products by characteristics like quality, design, and features.

Standardized Products

Goods that are made to specific standards to ensure consistency and uniformity, facilitating mass production and interchangeability across different brands or producers.

Homogeneous Oligopolists

A market structure where a few firms offer products or services that are similar in nature and hence are close substitutes for each other.