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What is the total budgeted cost of goods manufactured

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Question - Meridian Industries manufactures and sells two models of watches, Prime and Luxuria. It expects to sell 3 000 units of Prime and 2 000 units of Luxuria in 2020.The following estimates are given for 2020:

PRIME LUXURIA

Selling price ($ per uni) 167 460

Direct materials ($ per unit) 27 52

Direct labor ($ per unit) 46 173

Manufacturing overhead ($ per unit)37 75

Meridian had an inventory of 210 units of Prime and 110 units of Luxuria at the end of 2019. It has decided that as a measure to counter stock outages it will maintain ending inventory of 670 units of Prime and 190 units of Luxuria.

What is the total budgeted cost of goods manufactured in 2020?

Reference no: EM132986313

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