Exhibit 5-7 Last month, Ellison Industries sold its product for $100 per unit. Fixed production costs...
Exhibit 5-7 Last month, Ellison Industries sold its product for $100 per unit. Fixed production costs were $50,000, and variable production costs amounted to $21 per unit. Fixed selling and administrative costs totaled $20,000, and variable selling and administrative costs amount to $3.00 per unit. Dawson produced and sold 6,000 units last month. Refer to Exhibit 5-7. Which of the following amounts represents total cost of goods sold? Group of answer choices $176,000 $126,000 $164,000 $424,000
Homework Answers
Number of units produced = 6,000
Variable production cost = $21 per unit
Total variable production cost = Number of units produced x Variable production cost per unit
= 6,000 x 21
= $126,000
Fixed production costs = $50,000
Total cost of goods sold = Total variable production cost + Fixed production costs
= 126,000 + 50,000
= $176,000
First option is the correct option.
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Exhibit 5-7 Last month, Ellison Industries sold its product for
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Question 23 2 pts Exhibit 5-7 Last month, Ellison Industries sold its product for $100 per unit. Fixed production costs were $50,000, and variable production costs amounted to $21 per unit. Fixed selling and administrative costs totaled $20,000, and variable selling and administrative costs amount to $3.00 per unit. Dawson produced and sold 6,000 units last month. Refer to Exhibit 5-7. Using a traditional income statement, which of the following amounts is the gross margin? $424,000 $474,000 $456,000 $386,000 None...
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