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information for the year ended December 31, 2010:Direct labor $16,840Direct material used 16,300General and administrative expenses 14,240Indirect production costs 16,780Selling expenses 13,599Work in process inventory, January 1, 2010 0Work in process inventory, December 31, 2010 0 Finished goods inventory, January 1, 2010 0Finished goods inventory, December 31, 2010 ?Cost of goods sold 42,720Requirements:A) What is the Cost of Goods Manufactured for the year ended December 31, 2010?B) What is Finished Goods Inventory at December 31, 2010?
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how marginal cost of a product is determined?
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