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Assume the following information for a company that produced 10,000 units and sold 8,000 units...

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Accounting

Assume the following information for a company that produced 10,000 units and sold 8,000 units during its first year of operations and produced 8,000 units and sold 10,000 units during its second year of operations:

Per Unit Per Year
Selling price $ 200
Direct materials $ 70
Direct labor $ 50
Variable manufacturing overhead $ 8
Sales commission $ 8
Fixed manufacturing overhead $ 300,000

Using absorption costing, what is the cost of goods sold for the second year of operations?

Multiple Choice

  • $1,655,000

  • $1,374,000

  • $1,640,000

  • $1,294,000

Answer & Explanation Solved by verified expert
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