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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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