Answer the following questions using the information below:
Peggy's Pillows produces and sells a decorative pillow for $75.00 per unit. In the first month of operation, 2,000 units were produced and 1,750 units were sold. Actual fixed costs are the same as the amount budgeted for the month. Other information for the month includes:
-What is cost of goods sold using variable costing?
Definitions:
Financial Statement
A formal record of the financial activities and position of a business, individual, or other entity, typically including balance sheet, income statement, and cash flow statement.
Days' Sales Uncollected
A financial ratio that indicates the average number of days it takes a company to collect payment after a sale has been made.
Inventory Turnover
A ratio showing how often a company's inventory is sold and replaced over a certain period.
Accounts Receivable Turnover
A financial ratio that measures a company's effectiveness in collecting its receivables or the money owed by clients.
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