Zee Corporation operated at 100% of capacity during its first month and incurred the following...
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Zee Corporation operated at 100% of capacity during its first month and incurred the following costs: Selling price is $800 per unit. Production costs (2,000 units): Direct materials $180,000 Direct labor 240,000 Variable factory overhead 280,000 Fixed factory overhead 100,000 $800,000 Operating expenses: Variable operating expenses $130,000 Fixed operating expenses 50,000 180,000 If 400 units are sold during the month, what is total cost of goods sold reported under Absorption Costing?
a. $800,000 b. $640,000 c. $140,000 d. $160,000
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