Chapter 4, Problem 3UJ

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The cost of goods sold is found on which financial statement? (1) Statement of Cash Flows (2) Balance Sheet (3) Statement of Retained Earnings (4) Income Statement

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Eddie Woodworks manufactures custom shelving. During the most productive month of the year, 4,200 units were manufactured at a total cost of $73,500. In the month of lowest production, the company made 1,600 units at a cost of $49,800. Using the high-low method of cost estimation, total fixed costs are__. a. $22,200 b. $30,600 c. $35,208 d. $45,000

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