Question

Tangam Toys have provided the following information on the month's production. Tangam Toys have no Work in Process (WIP): Production (units) 4,000 Direct materials $11,000 Direct labour $10,000 Overhead $10,000 Sales commission per unit sold $4 Sales price per unit $40 Fixed selling and administrative expense $14,000 Opening Finished Goods Inventory (800 units) $4,000 Closing Finished goods Inventory (200 units) $2,000