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During its first year of operations, Beta Company paid $16,000 for direct material and $17,000 in wages for production workers. Lease payments and utilities on
During its first year of operations, Beta Company paid $16,000 for direct material and $17,000 in wages for production workers. Lease payments and utilities on the production facilities amounted to $7,000. General, selling, and administrative expenses were $6,000. The company produced 5,000 units and sold 4,000 units at a price of $15. What is the cost of goods sold?
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A. $32,000
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B. $36,800
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C. $40,000
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D. $46,000
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