Lease payments and utilities on the production

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Reference no: EM13922117

During its first year of operations, Silverman Company paid $14,000 for direct materials and $19,000 for production workers' wages. Lease payments and utilities on the production facilities amounted to $17,000 while general, selling, and administrative expenses totaled $8,000. The company produced 5,000 units and sold 3,000 units at a price of $15.00 a unit.

What is Silverman's cost of goods sold for the year?

$50,000

$24,600

$30,000

$41,000

Reference no: EM13922117

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