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Compute the cost of the goods sold for the year

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Question - Data for a firm's first year of operation is given below. The firm uses absorption costing.

Units produced (no work in process) 6000

Units sold 5000

Units in ending inventory of finished goods 1000

Sales price for each unit. $75

Variable manufacturing costs for each unit $30

Variable selling and admin, expenses for each unit $16

Fixed manufacturing costs for the year $90,000

Fixed selling and admin. Expenses for the year $65,000

The cost of the goods sold for the year is:

(A) $270,000

(B) $225,000

(C) $150,000

(D) $450,000

Reference no: EM132058215

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