Question - The XYZ Company makes dishes. During the current month, direct materials costing $450,000 were put into production. Direct labor of $120,000 was incurred and overhead equaled $150,000. Selling and administrative expenses totaled $80,000 for the month and the company manufactured 60,000 dishes. Assume there was no beginning inventory and that 58,000 crab pots were sold.
Required:
A. What is cost of goods sold for the month?
B. What is the cost of ending finished goods for the month?