Solution-What was cost of goods sold

What was cost of goods sold

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

Prepare in good form a statement of changes in equity

Prepare an installment payments schedule for five payments

Expense warrenty accrual method

Prepare the financial statements for the month of january

Describe insights gained by performing some planning

Compute depreciation and the book value of the drill press

Determine the concepts for investments

What is the deferred tax assets or liability balance

Describe all parts of the federal income tax formula arrive

Discuss what was the companys contribution margin

What is the overall value of the project in the present

Discuss the federal government declared a disaster area

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT