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Apex Manufacturing expects to sell 22,000 boxes in 2013. The company had enough beginning inventory materials to produce 26,000 units. The beginning inventory of finished units totaled 1,800 with a target ending inventory of 2,300 units. The boxes sell for 4 dollars, and the company keeps no work-in-process inventory. Direct materials cost for each box total 1.20 dollars, while direct labor is 0.55, factory overhead is 0.25 per box, and shipping costs total 5 dollars. What will be Apex's Cost of Goods Sold in 2013?

Apex Manufacturing expects to sell 22,000 boxes in 2013. The company had enough beginning inventory materials to produce 26,000 units. The beginning inventory of finished units totaled 1,800 with a target ending inventory of 2,300 units. The boxes sell for 4 dollars, and the company keeps no work-in-process inventory. Direct materials cost for each box total 1.20 dollars, while direct labor is 0.55, factory overhead is 0.25 per box, and shipping costs total 5 dollars. What will be Apex's Cost of Goods Sold in 2013?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Apex Manufacturing expects to sell 22,000 boxes in 2013. The company had enough beginning inventory materials to produce 26,000 units. The beginning inventory of finished units totaled 1,800 with a target ending inventory of 2,300 units. The boxes sell for 4 dollars, and the company keeps no work-in-process inventory. Direct materials cost for each box total 1.20 dollars, while direct labor is 0.55, factory overhead is 0.25 per box, and shipping costs total 5 dollars. What will be Apex's Cost of Goods Sold in 2013?
Transcribed Image Text:Apex Manufacturing expects to sell 22,000 boxes in 2013. The company had enough beginning inventory materials to produce 26,000 units. The beginning inventory of finished units totaled 1,800 with a target ending inventory of 2,300 units. The boxes sell for 4 dollars, and the company keeps no work-in-process inventory. Direct materials cost for each box total 1.20 dollars, while direct labor is 0.55, factory overhead is 0.25 per box, and shipping costs total 5 dollars. What will be Apex's Cost of Goods Sold in 2013?
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