information for the year ended December 31, 2010:
Sales 110,000
Direct materials used 20,800
Indirect production costs-fixed 10,400
Indirect production costs-variable 6,600
Direct labor fixed 12,300 Direct labor-variable 22,300
Selling expenses-fixed 33,040
Selling expenses-variable 33,440
Finished goods inventory, January 1, 2010 12,000
Finished goods inventory, December 31, 2010 22,000
Work in process inventory, January 1, 2010 0
Work in process inventory, December 31, 2010 0
Requirements:
A) Compute the Cost of Goods Manufactured for the year ended December 31, 2010.
B) Compute the Cost of Goods Sold for the year ended December 31, 2010.
C) Compute the Net Income(Loss) for the year ended December 31, 2010.