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Blizzard [7]
2 years ago
15

Wooten & McMahon Enterprises produces a product with the following per-unit costs: Direct materials $13.00 Direct labor 8.80

Manufacturing overhead 16.50 Last year, Wooten & McMahon Enterprises produced and sold 825 units at a sales price of $74.80 each. Total selling and administrative expense was $24,200. What was the cost of goods sold last year? (Note: Round answer to two decimal places.)
Business
1 answer:
vichka [17]2 years ago
8 0

Answer:

COGS= $31,597.5

Explanation:

Giving the following information:

Direct materials $13.00

Direct labor 8.80

Manufacturing overhead 16.50

Last year, Wooten & McMahon Enterprises produced and sold 825 units

First, we need to calculate the cost of goods manufactured:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 0 + 13 + 8.8 + 16.5 - 0= $38.3

Total cost of goods manufactured= 825*38.3= $31,597.5

Now, we can calculate the cost of goods sold:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 0 + 31,597.5 - 0= $31,597.5

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consumption, investment, government purchases, and net exports.

Explanation:

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4 0
2 years ago
A watch manufacturer incurs a variable cost of $10 per watch and fixed costs of $400,000. To earn a 25 percent markup on selling
WITCHER [35]

Answer:

$22.50 per unit

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Mark -up is the percentage of cost that is earned as profit.

Using mark-up,

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Total costs = $400,000 +  (10× 50,000)

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6 0
3 years ago
Read 2 more answers
Although Martin is not in top management, he is charismatic and well liked by others in his organization. Other employees often
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<em>Informal leadership</em>

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Answer:

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