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?
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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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