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Hopkins Manufacturing Inc.'s accounting records reflect the following inventories:
Dec. 31, 2009 Dec. 31, 2010Raw materials inventory $ 80,000 $ 64,000Work in process inventory 104,000 116,000Finished goods inventory 100,000 92,000
During 2010, Hopkins purchased $760,000 of raw materials, incurred direct labor costs of $100,000, and incurred manufacturing overhead totaling $128,000. How much is total manufacturing costs incurred during 2010 for Hopkins?
A) $992,000
B) $1,004,000
C) $988,000
D) $1,000,000
Trepid Manufacturing Company prepared a fixed budget of 40,000 direct labor hours, with estimated overhead costs of $200,000 for variable overhead and $60,000 for fixed overhead.
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