Required information

[The following information applies to the questions displayed below.] The following selected information was extracted from the 20x1 accounting records of Lone Oak Products:

Raw material purchases	$	175,000
Direct labor		254,000
Indirect labor		109,000
Selling and administrative salaries		133,000
Building depreciation*		80,000
Other selling and administrative expenses		195,000
Other factory costs		344,000
Sales revenue ($130 per unit)		1,495,000

*Seventy-five percent of the company's building was devoted to production activities; the remaining 25 percent was used for selling and administrative functions.

Inventory data:

	January 1			December 31
Raw material	$	15,800		$	18,200
Work in process		35,700			62,100
Finished goods*		111,100			97,900

*The January 1 and December 31 finished-goods inventory consisted of 1,350 units and 1,190 units, respectively.

3. Compute the companys cost of goods sold.

I got 915,600 for Cost of goods sold please let me know if that is correct.

Required information (The following information applies to the questions displayed below.) The following selected information was extracted from the 20x1 accounting records of Lone Oak Products: Raw material purchases Direct labor Indirect labor Selling and administrative salaries Building depreciation* Other selling and administrative expenses Other factory costs Sales revenue ($130 per unit) $ 175,000 254,000 109,000 133,000 80,000 195,000 344,000 1,495,000 *Seventy-five percent of the company's building was devoted to production activities; the remaining 25 percent was used for selling and administrative functions. Inventory data: January 1 $ 35,700 111,100 Raw material Work in process Finished goods* 15,800 December 31 $ 18,200 62,100 97,900 *The January 1 and December 31 finished-goods inventory consisted of 1,350 units and 1,190 units, respectively. 3. Compute the company's cost of goods sold. Cost of goods sold $ 915,600