Question 24 During its first year of operations, Remnant Company paid $12,000 for direct materials and $6,500 for produc

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Question 24 During Its First Year Of Operations Remnant Company Paid 12 000 For Direct Materials And 6 500 For Produc 1 (27.97 KiB) Viewed 25 times

Question 24 During its first year of operations, Remnant Company paid $12,000 for direct materials and $6,500 for production workers' wages. Lease payments and utilities on the production facilities amounted to $9,500 while general, selling, and administrative expenses totaled $8,000. The company produced 7,000 units and sold 5,000 units at a price of $7.50 a unit. What is the value of ending inventory at the end of the first year? 4,000 10,286 8,000 2 pts 28,000