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Determine the total cost of the ending inventory

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Question - Vernon Manufacturing Company began operations on January 1. During the year, it started and completed 1,750 units of product. The financial statements are prepared in accordance with GAAP. The company incurred the following costs:

Raw materials purchased and used-$3,200.

Wages of production workers-$3,450.

Salaries of administrative and sales personnel-$1,885.

Depreciation on manufacturing equipment-$4,900.

Depreciation on administrative equipment-$1,795.

Vernon sold 1,100 units of product.

Required -

1. Determine the total product cost for the year.

2. Determine the total cost of the ending inventory.

3. Determine the total of cost of goods sold.

Reference no: EM133071164

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