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Problem
Miyazaki Manufacturing Company began operations on January 1. During January, it started and completed 5,000 units of product. The company incurred the following costs:
1. Raw materials purchased and used- $7, 800.2. Wages of production workers $6.000.3. Salaries of administrative and sales personnel-$3,000.4. Depreciation on manufacturing equipment-$2, 500.5. Depreciation on administrative equipment $3, 800.Miyazaki sold 4, 600 units of product.
Required
a. Determine the total product cost.b. Determine the total cost of the ending inventory.c. Determine the total of cost of goods sold.
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