Solution-What amount should be reported as cost of goods

What amount should be reported as cost of goods sold

Reference no: EM132578352

Question - During its first month of operations, a manufacturer incurs the following costs (in dollars) related to activities within its factory:

Direct materials $15,000

Direct labor $30,000

Manufacturing overhead $40,000

What amount should be reported as cost of goods sold on the income statement if 5,000 units are produced and 4,000 are sold?

a. $56,000

b. $68,000

c. $70,000

d. $85,000

Reference no: EM132578352

Questions Cloud

Effective ethics program : Discuss the components of an "effective ethics program" and the reasons for having a code of ethics.

Discuss the role of one personal values in business : Discuss the role of one's personal values in business decision making situations in detail.

What will you solve it if you are a partnership manager : Total losses are more than $20,000 and keep growing. What will you solve it if you are a Partnership Manager?

Long period of declining sales : After a long period of declining sales and no bonuses for employees, your company's efforts to increase sales have been successful

What amount should be reported as cost of goods sold : What amount should be reported as cost of goods sold on the income statement if 5,000 units are produced and 4,000 are sold

Discuss why you think there is a need to evaluate : Discuss why you think there is a need to evaluate performance and to measure it? What are the pros and cons of conducting performance

What tax regime would choose for said company : Why is accounting important to THAT company? And according to everything studied: What tax regime would you choose for said company? And because?

Important of performance appraisals on the employee : The research question is: The important of performance appraisals on the employee, manager, and company

What do you recommend the company buy and why : What do you recommend the company buy and why? The initial requestor does not have a preference on which carpet type is selected

User Account

All Pages

What amount should be reported as cost of goods sold

Reference no: EM132578352

Reference no: EM132578352

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

Prepare the appropriate journal entry for transport company

What will be the amount of cash received by downey

The variable costing unit product cost

Determine activity rate of sales order processing activity

Explain how the accounting equation is impacted

Calculate the contribution margin per unit

How much is taxable

Anthony industries manufactures lawnmowers the selling

Explanation of the company''s internal control procedures

A machine is purchased on july 1 2009 for 181500 it has an

What would be the expected return for ZYZ shares

What was the amount of underapplied or overapplied overhead

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT