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telo118 [61]
3 years ago
15

Andy Basil Industries Inc. reported the following information about the production and sale of its only product during the first

month of​ operations: Selling price per unit ​$225.00 Sales ​$360,000 Direct materials used ​$176,000 Direct labor ​$100,000 Variable factory overhead ​$44,000 Fixed factory overhead ​$80,000 Variable selling and administrative expenses ​$20,000 Fixed selling and administrative expenses ​$10,000 Production volume variance 0 Ending​ inventory, Direct Materials 0 Ending​ inventory, Workminusinminusprocess 0 Ending​ inventory, Finished Goods 400 units Under absorption​ costing, what is the Cost of Goods​ Sold?
Business
1 answer:
grandymaker [24]3 years ago
3 0

Answer:

Cost of Goods Sold = $ 400,000

Explanation:

Units Sold = $360,000/ $225= 1600

Sales ​                                                                  $360,000

Direct materials ​$176,000

Direct labor ​$100,000

Variable factory overhead ​$44,000

Fixed factory overhead ​$80,000

Total Manufacturing Costs   $ 400,000

Variable selling and administrative expenses ​$20,000

Fixed selling and administrative expenses ​$10,000

Cost of Goods Sold = $ 400,000

As ending Inventory Finished Goods is 400 units it is not included in the Cost of Goods Sold.

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2 years ago
An economy is employing 2 units of capital, 5 units of raw materials, and 8 units of labor to produce its total output of 640 un
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Answer:

$0.1  

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Variable cost = Cost of raw material = Units of raw material × Cost of each unit of raw material = 5 units × $4/unit = $20

Fixed cost = Cost of labor + Capital =(Units of capital × Cost of each unit of capital) + (Units of labor × Cost of each unit of labor)  = (8 units × $3/unit) + (2 units × $10/unit) = $24 + $20 = $44

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3 years ago
All Seasons, Inc. ordered $5,000 worth of Christmas decorations from Santa, Inc. The shipment of decorations was to arrive no la
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Answer:

C. Compensatory damages and consequential damages.

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3 years ago
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2 years ago
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