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?

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter6: Activity-based, Variable, And Absorption Costing
Section: Chapter Questions
Problem 6PB: Box Springs. Inc., makes two sizes of box springs: queen and king. The direct material for the queen...
icon
Related questions
Question
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?
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,