A company sells only a single product.They sell this product for $$45,$ it costs them $$10$ in direct materials and $$15$ in direct labour to make this product.The necessary infrastructure to produce the product requires a fixed overhead expense of $$450,000.$The company sold $194,000$ units in the past year.

Question:

What is the 'Cost of Goods Sold' of this business's income statement? 

Answer rating: 100% (QA)

To calculate the Cost of Goods Sold COGS we need to sum up the costs directly associated with produc... View the full answer