During its first year of operations, Silverman Company paid $11,440 for direct materials and $9,900 for production workers' wages. Lease payments and utilities on the production facilities amounted to $8,900 while general, selling, and administrative expenses totaled $4,400. The company produced 5,600 units and sold 3,400 units at a price of $7.90 a unit. What is Silverman's cost of goods sold for the year?

During its first year of operations, Silverman Company paid $11,440 for direct materials and $9,900 for production workers' wages. Lease payments and utilities on the production facilities amounted to $8,900 while general, selling, and administrative expenses totaled $4,400. The company produced 5,600 units and sold 3,400 units at a price of $7.90 a unit. What is Silverman's cost of goods sold for the year?

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 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

See similar textbooks

Similar questions

How would each of the following costs be classified if units produced is the activity base? a. Salary of factory supervisor ($120,000 per year) b. Straight-line depreciation of plant and equipment c. Property rent of $11,500 per month on plant and equipment
Wyandotte Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 256,900, direct labor cost was 176,000, and overhead cost was 308,400. There were 40,000 units produced. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 6.62 is direct materials and 7.71 is overhead. What is the prime cost per unit? Conversion cost per unit?
Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?
Using the information in the previous exercises about Marleys Manufacturing, determine the operating income for department B, assuming department A sold department B 1,000 units during the month and department A reduces the selling price to the market price.
During its first year of operations, Silverman Company paid $16,360 for direct materials and $10,300 for production workers' wages. Lease payments and utilities on the production facilities amounted to $9,300 while general, selling, and administrative expenses totaled $4,800. The company produced 6,200 units and sold 3,800 units at a price of $8.30 a unit. What is Silverman's cost of goods sold for the year?
During its first year of operations, Saboori Manufacturing paid $13,200 for direct materials and $11,500 for production workers' wages. Lease payments and utilities on the production facilities amounted to $10,400, while general, selling, and administrative expenses totaled $5,200. The company produced 6,200 units and sold 4,000 units at a price of $8.50 per unit. What is Saboori Manufacturing's cost of goods sold for the year?
During its first year of operations, Saboori Manufacturing paid $13,200 for direct materials and $11,500 for production workers' wages. Lease payments and utilities on the production facilities amounted to $10,400, while general, selling, and administrative expenses totaled $5,200. The company produced 6,200 units and sold 4,000 units at a price of $8.50 per unit. What is Saboori Manufacturing's cost of goods sold for the year?help
During its first year of operations, Silverman Company paid $9,160 for direct materials and $9,700 for production workers' wages. Lease payments and utilities on the production facilities amounted to $8,700 while general, selling, and administrative expenses totaled $4,200. The company produced 5,300 units and sold 3,200 units at a price of $7.70 a unit. What is Silverman's cost of goods sold for the year? Multiple Choice O $27,560 $13,923 $16,640 $23,060
What was AEC's net income for the first year?
During its first year of operations, Silverman Company paid $10,385 for direct materials and $11,400 for production workers' wages. Lease payments and utilities on the production facilities amounted to $10,400 while general, selling, and administrative expenses totaled $3,100. The company produced 7,850 units and sold 4,900 units at a price of $6.60 a unit. What was Silverman's net income for the first year in operation? Multiple Choice $21.940 O $10.555 50350 $29.240
want the answer of this question
GIVE ME ANSWER