The following information was taken from the accounting records of Elliott Manufacturing Corp. Unfortunately, some of the data were destroyed by a computer malfunction.
Sales Revenue $ 61,750
Finished Goods Inventory, Beginning 10,250
Finished Goods Inventory, Ending 7,000
Cost of Goods Sold ?
Gross Margin 28,250
Direct Materials Used 10,750
Selling and Administrative Expense ?
Operating Income 15,000
Work-in-Process Inventory, Beginning ?
Work-in-Process Inventory, Ending 5,750
Direct Labor Used 19,375
Factory Overhead 12,500
Total Manufacturing Cost ?
Cost of Goods Manufactured ?
Cost of goods sold is calculated to be:_______.
a. $30.250
b. $32,500
c. $33.500
d. $27,500
