Slapshot Company makes ice hockey sticks. Last week, direct materials (wood, paint, Kevlar, and resin) costing $28,000 were put into production. Direct labor of $28,000 (10 workers x 100 hours x $28 per hour) was incurred.
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Excerpts from Huckabee Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 87,000 $ 79,000 Merchandise inventory 65,000 79,000 Net sales 407,000 379,000 Cost of goods sold 247,000 227,000
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