XYZ Co. produces widgets. XYZ has variable manufacturing cos…
XYZ Co. produces widgets. XYZ has variable manufacturing costs of $[vmfg] per unit, and variable selling cost of $0.80 per unit. Fixed manufacturing costs total $40,000 per year and fixed selling cost are $18,000 per year. At the beginning of the year XYZ had no units in Finished Goods inventory. There are no units in beginning or ending Work In Process Inventory. During the year [cy] units are produced and sold. Assuming XYZ uses absorption costing, what is Cost of Goods Sold for the year? (round all intermediate calculations and your final answer to four decimal places)
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