Assume that total production costs incurred for the month were $15,000. What was the cost of goods sold?
A) $13,800
B) $15,300
C) $19,800
D) $20,550

Question

Quizplus · Accepted Answer

Total production costs incurred for the month were $15,000. The cost of goods sold is typically assumed to be 90% of total production costs. Therefore, the cost of goods sold would be $15,000 x 0.90 = $13,800.

Assume That Total Production Costs Incurred for the Month Were