Question
I NEED HELP! I am stuck. For your statement of cost of goods sold , use the following data regarding the actual costs incurred by
I NEED HELP! I am stuck.
For your statement of cost of goods sold, use the following data regarding the actual costs incurred by the business over the past month:
- Materials purchased: $20,000
- Consumed 80% of the purchased materials
- Direct labor: $8,493
- Overhead costs: $3,765
Note: Assume that the beginning materials and ending work in process are zero for the month.
Use the following revenue and cost information for the income statement. Note that the revenue you use will depend on the pricing level options you chose in Milestone Two. Also, assume that after accounting for weekends and other holidays, there were 20 business days in the first month of operation.For example, if you chose a sales price of $20 per collar, the actual number of collars sold in the month was 33 per day or 33 x 20 = 660 per month.
Number of Items Sold per Dar $20 as as 23 as 23 is 25 22 $35 are The ether casts incurred by the business include: - General and administrative salaries D Receptionist: $11950 - Office supplies: Send I Dtherhusiness equipment: $150Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started