The company began operations in 2016. It manufactured a single product and sold 8,000 units for $160 each. The following information is for 2016: Units produced 9,200 Direct materials purchased $524,348 Direct materials used Direct labor costs Overhead costs $505,448 $235,428 $118,956 $146,004 Selling and admin. costs There was no beginning balance in any inventory account. There was no closing balance in the Work in Process inventory account. What was the Cost of Goods Sold for the year?

The company began operations in 2016. It manufactured a single product and sold 8,000 units for $160 each. The following information is for 2016: Units produced 9,200 Direct materials purchased $524,348 Direct materials used Direct labor costs Overhead costs $505,448 $235,428 $118,956 $146,004 Selling and admin. costs There was no beginning balance in any inventory account. There was no closing balance in the Work in Process inventory account. What was the 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 14E: For each of the following independent situations, calculate the missing values: 1. The Belen plant...

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What was the cost of goods sold for the year?
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