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What is the cost of goods sold

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Reference no: EM131781101

The records for the previous year for Sarasota Boat Builders, Inc., shows the following data::

Selling and administrative expenses $300,000

Direct materials used 530,000

Direct labor (100,000 hours) 600,000

Factory overhead application rate $5 per DLH

Inventories

Beginning Ending

Work in process $150,000 $160,000

Finished goods 80,000 50,000

What is the Cost of Goods Sold?

 

Reference no: EM131781101

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