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Econo Company
in July, Econo Company Purchased Materials Costing $21,000

Question 67

Multiple Choice

Econo Company
In July, Econo Company purchased materials costing $21,000 and incurred direct labour cost of $18,000. Manufacturing overhead totalled $32,000 for the month. Information on inventories was as follows:  July 1 July 31 Materials $6,200$7,100 Work-in-process $700$1,200 Finished goods $3,300$2,700\begin{array}{lrr}&\text { July } 1& \text { July } 31\\\text { Materials } & \$ 6,200 & \$ 7,100 \\\text { Work-in-process } & \$ 700 & \$ 1,200 \\\text { Finished goods } & \$ 3,300 & \$ 2,700\end{array}
-Refer to Ballard Company. Suppose each set of portable speakers has a per-unit product cost of $112. What would be the cost of goods sold last year?


A) $10,839,360
B) $10,864,000
C) $11,224,640
D) $11,555,120

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