How much were Ocampo Company's total cost of goods sold for March?
Beginning balances on March 1st are below:
Work in process: $5,000
Finished goods: $2,000
Ending balances for March 31 were:
Work in process: $0
Finished goods of $4,000
In March, the following happened:
\begin{itemize}
\item Purchased $20,000 of raw materials and used $15,000 of direct raw materials in production
\item Incurred $18,000 of direct labor
\item Incurred $4,000 of rent on its administrative building
\item Manufacturing overhead applied was $10,000 for the month.
\end{itemize}
Question 15
3 pts
Below is Gayatri Guitar's operating income from November where it sells one product,
guitar. The product has a sales price of $200 per unit. What is Gayatri Guitars' margin of
safety in dollars for November? (round to the nearest whole number)
Revenues $ 900,000
Variable Expenses $ 540,000
Fixed Expenses $ 170,000
