X Company began operations in 2018. It manufactured 10,500 units of a single product and sold 7,200 units for $170 each. The following information is for 2018: Direct materials purchased $575,100 Direct materials used Direct labor costs Overhead costs Selling costs Administrative costs 562,800 262,605 124,530 99,540 66,360 There was no beginning balance in any inventory account. There were no unfinished units at the end of the year. What was the Cost of Goods Sold for 2018?

Cornerstones of Cost Management (Cornerstones Series)
4th Edition
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Author:Don R. Hansen, Maryanne M. Mowen
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Chapter2: Basic Cost Management Concepts
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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 2018 general accounting

X Company began operations in 2018. It manufactured 10,500 units of a single
product and sold 7,200 units for $170 each. The following information is for 2018:
Direct materials purchased $575,100
Direct materials used
Direct labor costs
Overhead costs
Selling costs
Administrative costs
562,800
262,605
124,530
99,540
66,360
There was no beginning balance in any inventory account. There were no unfinished
units at the end of the year.
What was the Cost of Goods Sold for 2018?
Transcribed Image Text:X Company began operations in 2018. It manufactured 10,500 units of a single product and sold 7,200 units for $170 each. The following information is for 2018: Direct materials purchased $575,100 Direct materials used Direct labor costs Overhead costs Selling costs Administrative costs 562,800 262,605 124,530 99,540 66,360 There was no beginning balance in any inventory account. There were no unfinished units at the end of the year. What was the Cost of Goods Sold for 2018?
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