Dolan Company's accounting records reflect the following inventories: Dec. 31, 2020

Dec. 31, 2019

Raw materials inventory

$310,000

$260,000

Work in process inventory

300,000

160,000

Finished goods inventory

190,000

150,000

During 2020, $800,000 of raw materials were purchased, direct labor costs amounted to $670,000, and manufacturing overhead incurred was $640,000.
Dolan Company's total manufacturing costs incurred in 2020 amounted to

2. Management by exception
A. means that only unfavorable differences will be investigated.
B. means that material differences will be investigated.
C. means that all differences will be investigated.
D. causes managers to be buried under voluminous paperwork.

Answer and Explanation:

The computation of the total manufacturing cost is shown below:

As we know that

Total manufacturing cost is

= Direct raw material used + direct labor cost + manufacturing overhead cost

= ($260,000 + $800,000 - $310,000) + $670,000 + $640,000

= $2,060,000

2. The management of exception means examining the financial and operational business results and considered the issues that faced by the company by having attention on it. ALso it considered teh differences arise from the expected amount

So here means that non-favorable difference would be investigated or material difference would be investigated

explanation:

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1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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