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What is the cost of goods sold for lauren enterprises

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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

Reference no: EM132634658

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