Classic Coolers manufactures portable coolers adorned with college logos. During the first quarter of the year, the company had the following costs:
|Direct materials used||$55,500|
|Factory equipment depreciation||13,500|
|Office equipment depreciation||1,300|
The company had no beginning or endingwork in process inventoryand no beginning finished-goods inventory. Although 7,000 units were started and finished during the quarter, just 4,300 were sold, for an average price of $33 each.