Reference no: EM132634658
The following is the data for Lauren Enterprises:
Selling and administrative expenses $75,000
Direct materials used 265,000
Direct labor (25,000 hours) 300,000
Factory overhead application rate $16 per DLH
Inventories Esme Ell-ding
Direct materials $50,000 $45,000
Work in process 75,000 90,000
Finished goods 40,000 25,000
Problem 1: What is the cost of goods sold?
a. $980,000
b. $950,000
c. $965,000
d. $565,000