help recalculate COGS Zachary Manufacturing Company began operations on January
ID: 2401054 • Letter: H
Question
help recalculate COGS
Zachary Manufacturing Company began operations on January 1. During the year, it started and completed 1,650 units of product. The financial statements are prepared in accordance with GAAP. The company incurred the following costs: 1. Raw materials purchased and used-$3,080. 2. Wages of production workers-$3,610. 3. Salaries of administrative and sales personnel-$1,890. 4. Depreciation on manufacturing equipment-$5,685 5. Depreciation on administrative equipment $1,790. Zachary sold 1,130 units of product. Required a. Determine the total product cost for the year. b. Determine the total cost of the ending inventory. (Do not round intermediate calculations.) c. Determine the total of cost of goods sold. (Do not round intermediate calculations.) Answer is complete but not entirely correct $12,375 a. Total product cost bTotal cost of ending c. Total cost of goods sold $ 3,900 nventory $ 12,155Explanation / Answer
c. Total cost of goods sold = $7.50 x 1,130
Total cost of goods sold = $8,475
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