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Knowledge Check 01 January Beginning inventory 0 Units produced 500 Units sold 400 Ending inventory 100 Excerpt from Wallis Corporation Per Unit Per Month Selling
Knowledge Check 01
| January | |
| Beginning inventory | 0 |
| Units produced | 500 |
| Units sold | 400 |
| Ending inventory | 100 |
Excerpt from Wallis Corporation
| Per Unit | Per Month | |||
| Selling price | $ | 100 | ||
| Direct materials | 30 | |||
| Direct labor | 20 | |||
| Variable manufacturing overhead | 10 | |||
| Variable selling and administrative expenses | 7 | |||
| Fixed manufacturing overhead | $ | 10,000 | ||
| Fixed selling and administrative expenses | 3,000 | |||
What is the cost of goods sold for the month of January using the absorption costing method?
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$24,000
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$30,000
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$32,000
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$40,000
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