Summarized data for Walrus Co. for its first year of operations are: Sales (100,000 units) $5,000,000 Production Costs (120,000 units):       Direct Material 1,680,000     Direct Labor 1,440,000 Manufacturing Overhead:       Variable 900,000     Fixed 240,000 Selling and Administrative Expenses:       Variable 260,000     Fixed 430,000 Find the ending inventory, total cost of goods sold, gross profit, and selling administrative expenses

Cornerstones of Cost Management (Cornerstones Series)
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Chapter2: Basic Cost Management Concepts
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Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...
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Summarized data for Walrus Co. for its first year of operations are:

Sales (100,000 units) $5,000,000
Production Costs (120,000 units):  
    Direct Material 1,680,000
    Direct Labor 1,440,000
Manufacturing Overhead:  
    Variable 900,000
    Fixed 240,000
Selling and Administrative Expenses:  
    Variable 260,000
    Fixed 430,000

Find the ending inventory, total cost of goods sold, gross profit, and selling administrative expenses

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