Chapter 3, Problem 3DYS

If your estimate is that Gravity Computers is going to sell 4,200 units at $35 per piece and each item costs $12, your estimated cost of goods sold in dollars would be: A. $35,400 B. $50,400 C. $147,000 D. None of the above

What is the net operating income for the month under variable costing?

Nexus Builders Inc. reported a Cost of Goods Sold (COGS) for the current year of $560,000. During the same period, the Inventory account increased by $25,000, and the Accounts Payable account decreased by $15,000. The amount of cash paid to suppliers for inventory is: A. $520,000 B. $585,000 C. $600,000 D. $535,000