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XYZ Inc. provides the following information for the year ended December 31, 2023: Item Amount ($) Direct Materials 20,000 Direct Labor 15,000 Factory Overhead 5,000
XYZ Inc. provides the following information for the year ended December 31, 2023:
Item | Amount ($) |
Direct Materials | 20,000 |
Direct Labor | 15,000 |
Factory Overhead | 5,000 |
Sales Revenue | 100,000 |
Required:
- Calculate the total cost of goods sold for XYZ Inc.
- Determine the gross profit margin percentage.
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Managerial Accounting
Authors: Ronald W Hilton
7th Edition
0073022853, 978-0073022857
