During its first year of operations, Silverman Company paid $11,065 for direct materials and $11,200...
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Accounting
During its first year of operations, Silverman Company paid $11,065 for direct materials and $11,200 for production workers' wages. Lease payments and utilities on the production facilities amounted to $10,200 while general, selling, and administrative expenses totaled $3,300. The company produced 7,550 units and sold 4,700 units at a price of $6.80 a unit.
What is Silverman's cost of goods sold for the year?
Multiple Choice
$25,565
$15,915
$32,465
$20,210
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