Raimondo Corporation Makes One Product and Has Provided the Following

Multiple Choice

Raimondo Corporation makes one product and has provided the following information:The budgeted selling price per unit is $89. Budgeted unit sales for August is 8,300 units.Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.00 per pound.The direct labor wage rate is $21.00 per hour. Each unit of finished goods requires 2.6 direct labor-hours.Manufacturing overhead is entirely variable and is $7.00 per direct labor-hour.The estimated cost of goods sold for August is closest to:

A) $519,580
B) $577,680
C) $670,640
D) $151,060