How do you find cost of goods sold? For Jorge Company bottles and distributes...
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Accounting
How do you find cost of goods sold? For
Jorge Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2017, management estimates the following revenues and costs.
Sales
$1,840,000
Selling expensesvariable
$70,000
Direct materials
440,000
Selling expensesfixed
55,000
Direct labor
300,000
Administrative expensesvariable
26,000
Manufacturing overheadvariable
360,000
Administrative expensesfixed
46,000
Manufacturing overheadfixed
511,500
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