Quickbooks Online Accounting
3rd Edition
ISBN: 9780357391693
Author: Owen
Publisher: Cengage
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Subject:- General Account
Financial Account
Subject:- General Account
Data for a firm's first year of operation is given below.
The firm uses direct costing:
Units produced (no work in process) 6,000
Units sold 5,000 units in ending inventory of finished goods 1,000
Sales price for each unit $75
Variable manufacturing costs for each unit manufactured $30
Variable selling and admin. expenses for each unit sold $16
Fixed manufacturing costs for the year $90,000
Fixed selling and admin. expenses for the year $65,000
The costs of the goods sold for the year is:
a) $270,000
b) $225,000
c) $150,000
d) $45,000
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