What is Cost of Goods Sold for the month?

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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Megan Company uses job-order costing. At the end of the month, the following data was gathered:

Job # Total Cost Complete? Sold?
803 $500   yes yes
804 200   yes no
805 900   no no
806 600   yes yes
807 400   yes no
808 330   no no
809 600   yes yes
810 680   yes no
811 225   no no
812 440   no no

Megan’s selling price is cost plus 40% for each of its products.

What is Cost of Goods Sold for the month?
a.$1,700
b.$1,300
c.$1,430
d.$1,200
e.$2,220
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