Duncan Manufacturing Company began operations on January 1, 2011. During the year, it started and completed 50 units. Product costs for the period equal:
1) Acquired $30,000 cash by issuing common stock
2) Paid $10,000 for materials.
3) Paid $6,000 for administrative salaries.
4) Paid $8,000 for wages of production workers.
5) Depreciation of office furniture $2,500.
6) Depreciation of manufacturing equipment $3,500.
7) Collected $28,000 in cash for sales of 45 units.
Select one:
? a. $ 24,000.
b. $ 21,500.
? c. $ 30,000.
? d. $ 24,500.
