DALBY COMPANY Computation of Cost of Goods Sold For the Year Ending December 31,
ID: 2505239 • Letter: D
Question
DALBY COMPANY
Computation of Cost of Goods Sold
For the Year Ending December 31, 2012
1. Sales: 31,400 units, unit selling price $87. 2. Cost of one unit of finished goods: Direct materials 2 pounds at $5 per pound, direct labor 3 hours at $13 per hour, and manufacturing overhead $7 per direct labor hour 3. Inventories (raw materials only): Beginning, 10,410 pounds; ending, 15,110 pounds. 4. Raw materials cost: $6 per pound. 5. Selling and administrative expenses: $204,660. 6. Income taxes: 30% of income before income taxes.
Explanation / Answer
DALBY COMPANY Computation of Cost of Goods Sold For the Year Ending December 31, 2012 Cost of one unit of finished goods: $ Direct materials 10 Direct labor 39 Manufacturing overhead 21 Total 70 Cost of Goods Sold 2198000
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