Question
Magpie Inc. has informed you of some key pieces of information regarding their operations for the month of April of the year 2013. Sales for
Magpie Inc. has informed you of some key pieces of information regarding their operations for the month of April of the year 2013. Sales for the month were $1,950,000. Cost of Goods Manufactured for the month (under Variable Costing) was $1,412,000. The beginning Finished Goods Inventory on the first day of the month (under Variable Costing) was $100,000. The Variable Selling Expenses for the month were $140,000. The Variable Administrative Expenses for the month were $16,000. The Ending Finished Goods Inventory at the end of the last day of the month (under Variable Costing) was $206,000. The Fixed Factory Overhead was $144,000. The Fixed Selling Expenses were $200,000. The Fixed Administrative Expenses were $4,000. What was Cost of Goods Sold (under Variable Costing) for the firm for April?
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