Solution-What was cost of goods sold

What was cost of goods sold

Assignment Help Accounting Basics

Reference no: EM132243268

Question - X Company began operations in 2018. It manufactured 10,500 units of a single product and sold 7,200 units for $170 each. The following information is for 2018:

Direct materials purchased	$575,100
Direct materials used	562,800
Direct labor costs	262,605
Overhead costs	124,530
Selling costs	99,540
Administrative costs	66,360

There was no beginning balance in any inventory account. There were no unfinished units at the end of the year. What was Cost of Goods Sold for 2018?

Reference no: EM132243268

Questions Cloud

What is an ethernet repeater : What is an Ethernet Repeater? What is the purpose of using it? What layer is this device?

Assess possible challenges that may exist within each phase : Assess possible challenges that may exist within each phase. Suggest actions that one can perform in order to overcome these possible challenges.

Speculate the risks that would take place : Suggest at least three activities that are required in the physical design process of a database to ensure adequate physical storage and data access.

How locks could be used in order to qualify data transaction : Describe how these functions would be essential for business continuity and concurrency control.

What was cost of goods sold : There was no beginning balance in any inventory account. There were no unfinished units at the end of the year. What was Cost of Goods Sold for 2018

How these methods would help an organization process : Provide a real-world example that explains how these methods would help an organization process a large number of online transactions within a short time span.

Create training opportunities for employees : Staff rotation and cross training: not all positions are interesting and some change very little on the day today.

What are the key issues about the topic you selected : Explain why you selected the topic and include a theological statement. What are the key issues about the topic you selected?

How your own freedom of expression might affect your privacy : The Internet is an ideal communication mechanism because of its openness and anonymity but people must make ethical decisions about how to use this power.

User Account

All Pages

What was cost of goods sold

Reference no: EM132243268

Reference no: EM132243268

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT