Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. abc company manufactured 100,000 units in 2022 and

ABC Company manufactured 100,000 units in 2022 and reported the following costs: - Sandpaper: $32,000...

80.2K

Verified Solution

Question

Accounting

image
ABC Company manufactured 100,000 units in 2022 and reported the following costs: - Sandpaper: $32,000 - Leasing costs-plant: $384,000 - Materials handling: $320,000 - Depreciation-equipment: $224,000 - Coolants \& lubricants: $22,400 - Property taxes-equipment: $32,000 - Indirect manufacturing labor: $275,200 - Fire insurance-equipment: $16,000 - Direct manufacturing labor: $2,176,000 - Direct material purchases: $3,140,000 - Direct materials, 1/1/22: $348,000 - Direct materials, 12/31/22: $280,000 - Finished goods, 1/1/22: $672,000 - Finished goods, 12/31/22: $1,280,000 - Sales revenue: $12,800,000 - Sales commissions: $640,000 - Work-in-process, 1/1/22: $96,000 - Work-in-process, 12/31/22: $64,000 - Sales salaries: $576,000 - Advertising costs: $480,000 - Administration costs: $800,000 What is cost of goods sold for 2022

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Which of the following energy change is less than third Balmer transition in He ion...

Physics
Q

countershaft in Prob. 3–72, p. 152, is part of a speed reducing compound gear train using 20°...

Mechanical Engineering
Q

For each family of vectors, determine wether the vectors are linearly independent or not, and in...

Advance Math
Q

3 The length of wire when M is hung from it is 1 and is...

Physics
Q

3 W 0 Q 0 and AU Q 4 W 0 Q 0 and In...

Physics
Q

The mean SAT verbal score is 419, with a standard deviation of 96. Use the...

Basic Math
Q

24 Find the missing leg and hypotenuse 45 3 2

Calculus
Q

After making a substitution the integral becomes 3 2re 1 dr J2 10 1 eu...

Algebra
Q

As a control for cash receipts, which assertion is addressed when the computer starts with...

Accounting
Q

TB Problem Qu. 7-188 (Algo) Hagy Corporation has an activity-based costing ... Hagy Corporation has...

Accounting
Q

given the following information for Jackson's boots calculate its debt ratio for the current year...

Accounting
Q

In 1995, the Institute of Chartered Accountants in Australia (ICAA) established an Environmental Accounting Task...

Accounting