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In its first month of business, Soles for Souls, Inc., started and completed 5,000 shoes and sold 4,000 shoes during the month. Its cost for the month included: Advertising Costs $600 Direct materials per shoe Direct labor per shoe Allocated Manufacturing Overhead Sales Manager's Salary Calculate Soles for Soul's cost of goods manufactured for the year. $3.00 $3.00 $3,000 $22,000

In its first month of business, Soles for Souls, Inc., started and completed 5,000 shoes and sold 4,000 shoes during the month. Its cost for the month included: Advertising Costs $600 Direct materials per shoe Direct labor per shoe Allocated Manufacturing Overhead Sales Manager's Salary Calculate Soles for Soul's cost of goods manufactured for the year. $3.00 $3.00 $3,000 $22,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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QUESTION 33 In its first month of business, Soles for Souls, Inc., started and completed 5,000 shoes and sold 4,000 shoes during the month. Its cost for the month included: Advertising Costs $600 Direct materials per shoe $3.00 Direct labor per shoe $3.00 Allocated Manufacturing Overhead $3,000 Sales Manager's Salary $22,000 Calculate Soles for Soul's cost of goods manufactured for the year.
Transcribed Image Text:QUESTION 33 In its first month of business, Soles for Souls, Inc., started and completed 5,000 shoes and sold 4,000 shoes during the month. Its cost for the month included: Advertising Costs $600 Direct materials per shoe $3.00 Direct labor per shoe $3.00 Allocated Manufacturing Overhead $3,000 Sales Manager's Salary $22,000 Calculate Soles for Soul's cost of goods manufactured for the year.
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