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Jansen Company reports the following for its ski department for the year 2015. All of its costs are direct, except as noted.
Sales
$ 595,000
Cost of goods sold
425,000
Salaries
113,000
($25,800 is indirect)
Utilities
17,000
($5,500 is indirect)
Depreciation
50,200
($17,100 is indirect)
Office expenses
23,800
(all indirect)
1. Prepare a departmental income statement for 2015.
2. Prepare a departmental contribution to overhead report for 2015.
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Tropic Resources, Inc. reports net sales of $1,500,000; a gross profit of $650,000; and net income of $90,000. What is the company's cost of goods sold?
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