Question - The following data pertains to KZ Ltd for the year 2014:

Total direct materials costs in cost of goods sold $7775

Total direct labour costs in cost of goods sold $6769

Total variable manufacturing overhead costs in cost of goods sold $5381

Total fixed manufacturing overhead costs $7338

The budgeted denominator level 1648

Total units sold 952

Total units produced 1103

The fixed manufacturing cost rate is based on the budgeted denominator level. Production volume variance is written off to cost of goods sold. There are no price, efficiency or spending variances. Under absorption costing, calculate cost of goods sold using two decimals?