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29 Molten Metals, Inc. started operations in 2020. It uses an actual manufacturing overhead rate based on direct labor hours to apply its indirect product
29 Molten Metals, Inc. started operations in 2020. It uses an actual manufacturing overhead rate based on direct labor hours to apply its indirect product costs to jobs. The following information has been collected for 2020: Direct materials 155,000 Direct labor 205,000 Sales commissions $ 105,000 Indirect labor 55,000 Rent on office equipment $ 30,000 Depreciation - factory building 80,000 Utilities factory $ 105,000 Molten Metals used 10,000 direct labor hours and 20,000 machine hours during the previous year. Assume there are no beginning or ending Work in Process inventory. If 6,000 units of a single product were manufactured in 2020 and 4,000 units were sold, what is the Cost of Goods Sold (Round to the nearest dollar)
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