Answer: $2,182,000.
Step-by-step explanation:
In 2019, Barry Grey Inc. sold 34,000 units at a selling price of $46 per unit. The company manufactured 80,000 units. Variable manufacturing costs were $18 per unit manufactured. Fixed manufacturing costs amounted to $267,000. Variable marketing costs were $13 per unit sold, and the budgeted and actual fixed marketing costs were $33,000. Other fixed operating expenses amounted to $24,000. There was no beginning inventory.
To find the total manufacturing costs, we need to calculate the sum of variable manufacturing costs and fixed manufacturing costs.
Variable manufacturing costs per unit manufactured = $18
Number of units manufactured = 80,000
Total variable manufacturing costs = Variable manufacturing costs per unit manufactured * Number of units manufactured
= $18 * 80,000
= $1,440,000
Fixed manufacturing costs = $267,000
Total manufacturing costs = Total variable manufacturing costs + Fixed manufacturing costs
= $1,440,000 + $267,000
= $1,707,000
To find the total marketing costs, we need to calculate the sum of variable marketing costs and fixed marketing costs.
Variable marketing costs per unit sold = $13
Number of units sold = 34,000
Total variable marketing costs = Variable marketing costs per unit sold * Number of units sold
= $13 * 34,000
= $442,000
Fixed marketing costs = $33,000
Total marketing costs = Total variable marketing costs + Fixed marketing costs
= $442,000 + $33,000
= $475,000
To find the total operating expenses, we need to calculate the sum of fixed marketing costs and other fixed operating expenses.
Fixed marketing costs = $33,000
Other fixed operating expenses = $24,000
Total operating expenses = Fixed marketing costs + Other fixed operating expenses
= $33,000 + $24,000
= $57,000
To find the total cost of goods sold, we need to calculate the sum of total manufacturing costs and total marketing costs.