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The following cost data pertains to Crazy Cow Corp. for December 31st, 2022: Ending Raw...

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Accounting

The following cost data pertains to Crazy Cow Corp. for December 31st, 2022:

Ending Raw Materials Inventory: $160,000

Beginning Work-in-Process: $40,000

Ending Work-in-Process: $20,000

Direct Materials Used: $100,000

Direct Costs Incurred in Production: $200,000

Indirect Costs Incurred in Production: $100,000

Beginning Finished Goods Inventories: $120,000

Ending Finished Goods Inventories: $60,000

Sales: $600,000

Selling and Administrative Expenses: $160,000

Crazy Cows Gross Profit Percentage for 2022 was:

a.

37%

b.

33%

c.

50%

d.

67%

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