Cost of goods sold equals:

(a) beginning inventory plus net sales minus ending inventory.
(b) ending inventory plus net purchases minus beginning inventory.
(c) beginning inventory plus net purchases minus ending inventory.
(d) beginning inventory minus net purchases plus ending inventory.

Mordica company identifies three activities in its manufacturing process: machine setups, machining, and inspections. estimated annual overhead cost for each activity is $156,960, $382,800, and $84,640, respectively. the cost driver for each activity and the expected annual usage are number of setups 2,180, machine hours 25,520, and number of inspections 1,840. compute the overhead rate for each activity. machine setups $ per setup machining $ per machine hour inspections $ per inspection