Question
The Juarez Corporation incurred the following transactions during its first year of operations. (Assume all transactions involve cash). 1) Acquired $2,600 of capital from the
The Juarez Corporation incurred the following transactions during its first year of operations. (Assume all transactions involve cash). 1) Acquired $2,600 of capital from the owners. 2) Purchased $460 of direct raw materials. 3) Used $370 of these direct raw materials in the production process. 4) Paid production workers $560 cash. 5) Paid $360 for manufacturing overhead (applied and actual overhead are the same). 6) Started and completed 300 units of inventory. 7) Sold 210 units at a price of $6 each. 8) Paid $200 for selling and administrative expenses. The amount of cost of goods manufactured would be:
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