Homework Answers
1.
Company A
Sales = 53200 x $25 = $1330000
Cost of Goods Available for sale = $69800+310700 = $380500
Cost of Goods Sold = $380500-48300 = $332200
General and administrative expenses = $997800-180000-567800 =
$250000
Ending WIP = $354500-310700 = $43800
Variable Overhead = 55000 x $1.10 = $60500
Direct Material used = $354500-66000-60500-70000 = $158000
Company B
Fixed Overhead = $218000-118000 = $100000
Beginning WIP = $454000-98000-120000-218000 = $18000
Cost of Goods manufactured = $454000-23000 = $431000
Cost of Goods available for sale = $44000+431000 = $475000
Ending Finished Goods inventory = $475000-419000 = $56000
Operating Income = $566000-98000-133000 = $335000
2.
Cost per unit of finished goods = $310700/55000 = $5.65 per
unit
or Cost per unit of finished goods = $332200/53200 = $6.24 per
unit
3.
Selling Price = $985000/24625 = $40 per unit
Add Answer to:
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prepare the income statement for east aquatic company for the most recent year. use the calculation...
prepare the income statement for east aquatic company for the most
recent year. use the calculation of cost of goods sold, cost of
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year.
DATA:
------------------------------------------
^^ what i did so far .. please use same format because i am
confused
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expenses, and selling data for two different cases are as follows.
Indicate the missing amount for each
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Case
1
2
Direct
Materials Used
$
8,062
G
$
Direct
Labor
5,226
8,846
Manufacturing Overhead
8,894
4,540
Total
Manufacturing Costs
A
18,236
Beginning
Work in Process Inventory
1,456
H
Ending
Work in Process Inventory
B
3,240
Sales
25,141
I
Sales
Discounts
3,125
2,138
Cost of
Goods Manufactured
17,704
22,165
Beginning
Finished Goods Inventory
C
3,886
Goods
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prepare the income statement for east aquatic company for the most
recent year. use the calculation of cost of goods sold, cost of
goods manufactured, and the amount below. Assume that the company
sold 30,000 units for its product at a price of $11 each during the
year.
DATA:
------------------------------------------
^^ what i did so far .. please use same format because i am
confused
Raw materials inventory Work in process inventory Finished goods inventory Purchases of direct materials Direct...
Incomplete manufacturing costs,
expenses, and selling data for two different cases are as follows.
Indicate the missing amount for each
letter.
Case
1
2
Direct
Materials Used
$
8,062
G
$
Direct
Labor
5,226
8,846
Manufacturing Overhead
8,894
4,540
Total
Manufacturing Costs
A
18,236
Beginning
Work in Process Inventory
1,456
H
Ending
Work in Process Inventory
B
3,240
Sales
25,141
I
Sales
Discounts
3,125
2,138
Cost of
Goods Manufactured
17,704
22,165
Beginning
Finished Goods Inventory
C
3,886
Goods
Available for...
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