During its first year of operations, Silverman Company paid $11,360 for direct materials and $11,100...
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Accounting
During its first year of operations, Silverman Company paid $11,360 for direct materials and $11,100 for production workers' wages. Lease payments and utilities on the production facilities amounted to $10,100 while general, selling, and administrative expenses totaled $3,400. The company produced 7,400 units and sold 4,600 units at a price of $6.90 a unit.
What is Silverman's cost of goods sold for the year? (Do not round intermediate calculations.)
$16,075
$32,560
$25,860
$20,240
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