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

question 99

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 sold in 2016?

• A)$1,156,000
• B)$986,000
• C)$840,000
• D)$2,400,000
• E)$1,020,000

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Definitions:

Price Weighted Index

A stock market index in which each company's stock influences the index in proportion to its price per share.

Adjustable Rate Mortgage

A type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan according to market conditions.

Fixed Rate Mortgage

A mortgage in which the interest rate remains constant throughout the term of the loan.

Interest Rate

is the cost of borrowing money or the return on investment in a savings account, usually expressed as a percentage of the principal over a period of one year.