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Diaz Manufacturing began operations in 2022. It produced a single product and sold 7,500 units for $175 each. The following information is for 2022: Units Produced 8,600 Direct Materials Purchased $480,600 Direct Materials Used $460,200 $252,800 $134,750 $159,000 Direct Labor Costs Overhead Costs Selling and Admin Costs There was no beginning inventory in any account. There was also no ending balance in the Work in Process inventory account. Question: What was the Cost of Goods Sold (COGS) for the year?

Diaz Manufacturing began operations in 2022. It produced a single product and sold 7,500 units for $175 each. The following information is for 2022: Units Produced 8,600 Direct Materials Purchased $480,600 Direct Materials Used $460,200 $252,800 $134,750 $159,000 Direct Labor Costs Overhead Costs Selling and Admin Costs There was no beginning inventory in any account. There was also no ending balance in the Work in Process inventory account. Question: What was the Cost of Goods Sold (COGS) for the year?

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 14E: For each of the following independent situations, calculate the missing values: 1. The Belen plant...
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Diaz Manufacturing began operations in 2022. It produced a single product and sold 7,500 units for $175 each. The following information is for 2022: Units Produced 8,600 Direct Materials Purchased $480,600 Direct Materials Used $460,200 $252,800 $134,750 $159,000 Direct Labor Costs Overhead Costs Selling and Admin Costs There was no beginning inventory in any account. There was also no ending balance in the Work in Process inventory account. Question: What was the Cost of Goods Sold (COGS) for the year?
Transcribed Image Text:Diaz Manufacturing began operations in 2022. It produced a single product and sold 7,500 units for $175 each. The following information is for 2022: Units Produced 8,600 Direct Materials Purchased $480,600 Direct Materials Used $460,200 $252,800 $134,750 $159,000 Direct Labor Costs Overhead Costs Selling and Admin Costs There was no beginning inventory in any account. There was also no ending balance in the Work in Process inventory account. Question: What was the Cost of Goods Sold (COGS) for the year?
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