SJ CORP incurred the following cost to produce product X which consisted of 1,000 units in January 2020: Direct materials: Requisition number 101: 400 yards of fabric at P 8 per yard and requisition number 102: 500 cubic feet of stuffing at 3 per cubic foot. Direct labor incurred are as follows: 500 hours was incurred (regular working hours for January is 110 hours per week with regular rate of 24 per hour. Overtime rate premium is 20%. Overtime hours are the result of inefficiency of the company's machineries). Manufacturing overhead is applied based on direct labor hours at 20 per hour. At the end of January, 300 units of product X were still unsold.

 What is the cost of goods sold?

Answer rating: 100% (QA)

To calculate the cost of goods sold COGS we need to determine the total manufacturing cost for the u... View the full answer