Question: Johnson & Johnson: Cost Elements Amount ($) Direct Materials 300,000 Direct Labor 170,000 Factory Overheads 140,000 Selling and Distribution Expenses 100,000 Administrative Expenses 80,000 Units
Johnson & Johnson:
Cost Elements | Amount ($) |
Direct Materials | 300,000 |
Direct Labor | 170,000 |
Factory Overheads | 140,000 |
Selling and Distribution Expenses | 100,000 |
Administrative Expenses | 80,000 |
Units Produced and Sold | 16,000 units |
Sales Revenue | 800,000 |
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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