Question

You skipped this question in the previous attempt. Zachary Manufacturing Company was started on January 1, 2018, when it acquired $84,000 cash by issuing common stock. Zachary immediately purchased office furniture and manufacturing equipment costing $9,100 and $34,900, respectively. The office furniture had an 8-year useful life and a zero salvage value. The manufacturing equipment had a $3,300 salvage value and an expected useful lfe of four years. The company paid $11,400 for salaries of administrative personnel and $15,000 for wages to Finally, the company paid $18,260 for raw materials that were used to make inventory. All inventory was started and completed during the year. Zachary completed production on 4,900 units of product and sold 3,970 units at a price of $16 each in 2018. (Assume that all transactions are cash transactions and that product costs are computed in accordance with GAAP) personnel. Required a Determine the total product cost and the average cost per unit of the inventory produced in 2018. (Round "Average cost per unit" ok to 2 decimal places.) ne the amount of cost of goods sold that would appear on the 2018 income statement.(Do not round intermediate the amount of the ending inventory balance that would appear on the December 31, 2018, balance sheet. (Do not round adiate caiouiations c. Det the amount of net income that would appear on the 2018 income statement e. Determine the amount of retained earnings that would appear on the December 31, 2018, balance sheet f. Determine the amount of total assets that would appear on the December 31, 2018, balance sheet. a. Total d. Net K Prey 6 of 6 Next

Answer 1