Figure 2-7.Gateway Company produces a product with the following per-unit costs:
$\begin{array}{lr}
\text { Direct materials } & \$ 11 \
\text { Direct labor } & 8 \
\text { Overhead } & 15
\end{array}$ Last year, Gateway produced and sold 750 units at a sales price of $68 each. Total selling and administrative expense was $22,000.
-Refer to Figure 2-7. Cost of goods sold last year was?
A) $47,500
B) $25,500
C) $14,250
D) $51,000

Question

Figure 2-7.Gateway Company produces a product with the following per-unit costs:
 $\begin{array}{lr}
\text { Direct materials } & \$ 11 \
\text { Direct labor } & 8 \
\text { Overhead } & 15
\end{array}$ Last year, Gateway produced and sold 750 units at a sales price of $68 each. Total selling and administrative expense was $22,000.
-Refer to Figure 2-7. Cost of goods sold last year was?
A) $47,500
B) $25,500
C) $14,250
D) $51,000

Quizplus · Accepted Answer

The Answer of Figure 2-7.Gateway Company produces a product with the following per-unit costs:
 $\begin{array}{lr}
\text { Direct materials } & \$ 11 \
\text { Direct labor } & 8 \
\text { Overhead } & 15
\end{array}$ Last year, Gateway produced and sold 750 units at a sales price of $68 each. Total selling and administrative expense was $22,000.
-Refer to Figure 2-7. Cost of goods sold last year was?
A) $47,500
B) $25,500
C) $14,250
D) $51,000

Figure 2-7 Direct materials $11 Direct labor 8 Overhead 15\begin{array}{lr}\text { Direct materials } & \$ 11 \\\text { Direct labor } & 8 \\\text { Overhead } & 15\end{array} Direct materials Direct labor Overhead ​$11815​

Figure 2-7 $\begin{array}{lr}\text { Direct materials } & \$ 11 \\\text { Direct labor } & 8 \\\text { Overhead } & 15\end{array}$