Shelby Cabinets, Inc. produces custom cabinets. The following inventory balances appeared on its balance sheet. 12/31/2012

12/31/2011

Raw materials inventory

$ 8,000

$ 10,000

Work-in-process inventory

600,000

550,000

Finished goods inventory

350,000

410,000

Shelby Cabinets had $1,265,000 in sales for the year ended December 31, 2012. The company also had the following costs for the year:

Selling

$ 90,000

General and administrative

$240,000

Raw materials purchases

$100,000

Direct labor used in production

$125,000

Manufacturing overhead

$630,000

Of the total raw materials placed in production for the year, $12,000 was for indirect materials and must be deducted to find direct materials placed in production.

Using the above information, what was Shelby’s Cost of Goods Manufactured?

(Hint: You must first calculate Direct materials placed in production before calculating the Cost of Goods Manufactured.)

Group of answer choices

$795,000

$845,000

$855,000

$1,395,000

Vintage fun reproduces oldminusfashioned style roller skates and skateboards. the annual production and sales of roller skates is 950 units, while 1,750 skateboards are produced and sold. the company has traditionally used direct labor hours to allocate its overhead to products. roller skates require 2.5 direct labor hours per unit, while skateboards require 1.25 direct labor hours per unit. the total estimated overhead for the period is $114,300. the company is looking at the possibility of changing to an activityminusbased costing system for its products. if the company used an activityminusbased costing system, it would have the following three activity cost pools: the overhead cost per skateboard using the traditional costing system would be closest to: a. $9.31. b. $65.31. c. $25.05. your answer is not correct.d.

Which of the following has the largest impact on opportunity cost

Cooper sues company a in state court in south carolina, where he lives, for negligence alleging personal injury and property damage of $100,000 after a truck driven by an employee of company a rear-ended his pickup truck. company a is incorporated in delaware, has its headquarters in new york, but does a substantial amount of business in south carolina. claiming diversity of citizenship, company a seeks removal to federal district court, but cooper opposes the motion. which of the following is true regarding whether the case may be properly removed to federal district court? the amount in controversy satisfies diversity requirements; and if company a's nerve center is in a state other than south carolina, then the case may be properly removed to federal court.the amount in controversy satisfies diversity requirements; and because company a is incorporated and has its headquarters in a state other than south carolina, the case may be properly removed to federal court.because the amount in controversy satisfies diversity requirements and company a is incorporated in a state other than south carolina, the case may be properly removed to federal court regardless of where company a's headquarters, nerve center, or principal place of business is located.because the amount in controversy satisfies diversity requirements and company a is headquartered in a state other than south carolina, the case may be properly removed to federal court regardless of where company a is incorporated and regardless of the location of its nerve center.because the amount in controversy fails to satisfy jurisdictional requirements, regardless of the location of company a, the case may not be removed to federal court.