Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Urgent! Please help as soon as you can :) Gluten-tag sells gluten free pretzels. Pretzels cost $1.12 each to manufacture and are sold for $2.91
Urgent! Please help as soon as you can :)
Gluten-tag sells gluten free pretzels. Pretzels cost $1.12 each to manufacture and are sold for $2.91 each. In 2011, Gluten-tag manufactured 1,942 prezels. The company sold 936 pretzels for cash and 749 on credit. Fortunately, the unsold pretzels had a shelf life of 200 years and can therefore be sold later. The firm had no other revenues or costs. What did Gluten-tag declare as sales revenues and cost of sales on its income statement for 2011? O a. Sales revenue: $5,651.22, Cost of sales: $2,175.04 O b. Sales revenue: $2,723.76, Cost of sales: $2,175.04 O c. Sales revenue: $4,903.35, Cost of sales: $2,175.04 O d. Sales revenue: $2,723.76, Cost of sales: $1,887.20 O e. Sales revenue: $4,903.35, Cost of sales: $1,887.20Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started