During its first year of operations, Silverman Company paid $17,665 for direct materials and $10,400...
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Accounting
During its first year of operations, Silverman Company paid $17,665 for direct materials and $10,400 for production workers' wages. Lease payments and utilities on the production facilities amounted to $9,400 while general, selling, and administrative expenses totaled $4,900. The company produced 6,350 units and sold 3,900 units at a price of $8.40 a unit.
What is Silverman's cost of goods sold for the year?
A.) $20,246
B.) $32,965
C.) $23,010
D.) $37,465
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