The following information relates to Washington, Inc
Advertising Costs $10,600
Sales Salary 10,000
Sales Revenue 500,000
President's Salary 230,000
Office Rent 60,500
Manufacturing Equipment Depreciation 1,200
Indirect Materials Used 8,000
Indirect Labor 13,000
Factory Repair and Maintenance 920
Direct Materials Used 27,500
Direct Labor 36,000
Delivery Vehicle Depreciation 1,550
Administrative Salaries 22,000
How much were Washington's product costs?
A) $604,650
B) $252,000
C) $510,600
D) $86,620
D .D)
Indirect Labor $13,000
Indirect Materials 8,000
Factory Repair and Maintenance 920
Manufacturing Equipment Depreciation 1,200
Direct Materials 27,500
Direct Labor 36,000
Total Product Cost $86,620
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The more debt a company uses to finance its assets, the lower will be its operating income due to
higher interest expense. Indicate whether the statement is true or false