Question: Google LLC: Cost Elements Amount ($) Direct Materials 180,000 Direct Labor 110,000 Factory Overheads 85,000 Selling and Distribution Expenses 65,000 Administrative Expenses 55,000 Units Produced
Google LLC:
Cost Elements | Amount ($) |
Direct Materials | 180,000 |
Direct Labor | 110,000 |
Factory Overheads | 85,000 |
Selling and Distribution Expenses | 65,000 |
Administrative Expenses | 55,000 |
Units Produced and Sold | 10,000 units |
Sales Revenue | 500,000 |
Requirements:
- Prepare a cost of goods manufactured statement.
- Calculate the cost of goods sold.
- Compute the gross profit.
- Determine the net profit.
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