mary's
Mary's Mugs produces and sells various types of ceramic mugs. The business began operations on January 1, year 1, and its costs incurred during the year include the following.
| Variable costs (based on mugs produced): | ||
| Direct materials cost | $ | 4,900 |
| Direct manufacturing labor costs | 21,380 | |
| Indirect manufacturing costs | 960 | |
| Administration and marketing | 2,280 | |
| Fixed costs: | ||
| Administration and marketing costs | 11,500 | |
| Indirect manufacturing costs | 4,260 | |
On December 31, year 1, direct materials inventory consisted of 4,900 pounds of material. Production in that year was 14,000 mugs. All prices and unit variable costs remained constant during the year. Sales revenue for year 1 was $40,700. Finished goods inventory was $6,750 on December 31, year 1. Each finished mug requires 0.4 pounds of material.
Required:
a. Compute the direct materials inventory cost, December 31, year 1. (Round your answer to 2 decimal places.)
b. Compute the finished goods ending inventory in units on December 31, year 1.
c. Compute the selling price per unit. (Round your answer to 2 decimal places.)
d. Compute the operating profit (loss) for year 1.
(For all the requirements, do not round intermediate calculations.)
Homework Answers
Request Answer!
We need at least 10 more requests to produce the answer.
0 / 10 have requested this problem solution
The more requests, the faster the answer.
Mary's Mugs produces and sells various types of ceramic mugs. The business began operations on January...
Mary's Mugs produces and sells various types of ceramic mugs. The business began operations on January 1, year 1, and its costs incurred during the year include the following. Variable costs (based on mugs produced): Direct materials cost Direct manufacturing labor costs Indirect manufacturing costs Administration and marketing Fixed costs: Administration and marketing costs Indirect manufacturing costs $ 6,000 31,670 1,070 2,060 11,600 4,260 On December 31, year 1, direct materials inventory consisted of 6,000 pounds of material. Production in...
Mary's Mugs produces and sells various types of ceramic mugs. The business began operations on January...
Mary's Mugs produces and sells various types of ceramic mugs. The business began operations on January 1, year 1, and its costs incurred during the year include these Variable costs (based on mugs produced): Direct materials cost Direct manufacturing labor costs Indirect manufacturing costs Administration and marketing s 3,000 12,810 1,000 2,360 Fixed costs Administration and marketing costs Indirect manufacturing costs 11,300 4,190 On December 31. year 1, direct materials inventory consisted of 3,000 pounds of material. Production in that...
Mary's Mugs produces and sells various types of ceramic mugs. The business began operations on January...
Mary's Mugs produces and sells various types of ceramic mugs. The business began operations on January 1, year 1, and its costs incurred during the year include the following. Variable costs (based on mugs produced): Direct materials cost Direct manufacturing labor costs Indirect manufacturing costs Administration and marketing Fixed costs: Administration and marketing costs Indirect manufacturing costs $ 4,200 35,750 1,080 2,110 12,200 4,120 On December 31, year 1, direct materials inventory consisted of 4,200 pounds of material. Production in...
Mary's Mugs produces and sells various types of ceramic mugs. The business began operations on January...
Mary's Mugs produces and sells various types of ceramic mugs. The business began operations on January 1, year 1, and its costs incurred during the year include these: Variable costs (based on mugs produced): Direct materials cost $ 2,100 Direct manufacturing labor costs 22,770 Indirect manufacturing costs 1,070 Administration and marketing 2,020 Fixed costs: Administration and marketing costs 12,000 Indirect manufacturing costs 4,160 On December 31, year 1, direct materials inventory consisted of 2,100 pounds of material. Production in...
Mary's Mugs produces and sells various types of ceramic mugs. The business began operations on January 1 year 1, a...
Mary's Mugs produces and sells various types of ceramic mugs. The business began operations on January 1 year 1, and its costs incurred during the year include these: Variable costs (based on mugs produced) Direct materials cost Direct manufacturing labor costs Indirect manufacturing costs Administration and marketing Fooed costs: Administration and marketing costs Indirect manufacturing costs $ 3.600 31,500 1.140 2,010 11,700 4.200 On December 31. year 1, direct materials inventory consisted of 3.000 pounds of material Production in that...
ALASKA MANUFACTURING began its first year of operations on January 1, 2018. Costs incurred for 2018...
ALASKA MANUFACTURING began its first year of operations on January 1, 2018. Costs incurred for 2018 were as follows: $147,600 Variable Direct materials used Direct manufacturing labor cots 38,400 Variable Plant energy costs 2,000 Variable Indirect manufacturing labor costs 14,000 Variable Indirect manufacturing labor costs Other indirect production costs 19,000 Fixed 11,000 Variable Other indirect production costs 14,000 Fixed Marketing, distribution and customer-service costs 128,000 Variable Marketing, distribution and customer-service costs 48,000 Fixed 56,000 Fixed Administrative costs Variable manufacturing costs...
ALASKA MANUFACTURING ……. began its first year of operations on January 1, 2018. Costs incurred for...
ALASKA MANUFACTURING ……. began its first year of operations on January 1, 2018. Costs incurred for 2018 were as follows: Direct materials used $147,600 Variable Direct manufacturing labor cots 38,400 Variable Plant energy costs 2,000 Variable Indirect manufacturing labor costs 14,000 Variable Indirect manufacturing labor costs 19,000 Fixed Other indirect production costs 11,000 Variable Other indirect production costs 14,000 Fixed Marketing, distribution and customer-service costs 128,000 Variable Marketing, distribution and customer-service costs 48,000 Fixed Administrative costs 56,000 Fixed Variable manufacturing...
Westlake, Inc. produces metal fittings for the aerospace industry. The administrative and manufacturing operations occupy the...
Westlake, Inc. produces metal fittings for the aerospace
industry. The administrative and manufacturing operations occupy
the same 200,000 square foot building. The manufacturing plant uses
150,000 square feet. Depreciation is assigned based on building
use. Indirect labor represents 15 percent of the total
manufacturing plant labor.
The financial information for the year just ended is shown as
follows.
.
1. Prepare a cost of goods manufactured and
sold statement.
There are mistakes in this answer, so I need the full...
2-45 Comprehensive problem on unit costs, product costs. Atlanta Office Equipment manufactures and sells metal shelving....
2-45 Comprehensive problem on unit costs, product costs. Atlanta Office Equipment manufactures and sells metal shelving. It began operations on January 1, 2017. Costs incurred for 2017 are as follows (V stands for variable; F stands for fixed): Direct materials used Direct manufacturing labor costs Plant energy costs Indirect manufacturing labor costs Indirect manufacturing labor costs Other indirect manufacturing costs Other indirect manufacturing costs Marketing, distribution, and customer-service costs Marketing, distribution, and customer-service costs Administrative costs $140,000 V 22,000 V...
Need major help on requirements 1-4 please!! Atlanta Office Equipment manufactures and sells metal shelving. It...
Need major help on requirements 1-4 please!!
Atlanta Office Equipment manufactures and sells metal shelving. It began operations on January 1, 2017 : (Click the icon to view the costs incurred during 2017.) : (Click the icon to view the inventory data.) Revenues in 2017 were $475,200. The selling price per unit and the purchase price per pound of direct materials were stable throughout the year. The company's ending inventory of finished goods is carried at the average unit manufacturing...
Mary's Mugs produces and sells various types of ceramic mugs. The business began operations on January 1, year 1, and its costs incurred during the year include the following. Variable costs (based on mugs produced): Direct materials cost Direct manufacturing labor costs Indirect manufacturing costs Administration and marketing Fixed costs: Administration and marketing costs Indirect manufacturing costs $ 6,000 31,670 1,070 2,060 11,600 4,260 On December 31, year 1, direct materials inventory consisted of 6,000 pounds of material. Production in...
Mary's Mugs produces and sells various types of ceramic mugs. The business began operations on January 1, year 1, and its costs incurred during the year include these Variable costs (based on mugs produced): Direct materials cost Direct manufacturing labor costs Indirect manufacturing costs Administration and marketing s 3,000 12,810 1,000 2,360 Fixed costs Administration and marketing costs Indirect manufacturing costs 11,300 4,190 On December 31. year 1, direct materials inventory consisted of 3,000 pounds of material. Production in that...
Mary's Mugs produces and sells various types of ceramic mugs. The business began operations on January 1, year 1, and its costs incurred during the year include the following. Variable costs (based on mugs produced): Direct materials cost Direct manufacturing labor costs Indirect manufacturing costs Administration and marketing Fixed costs: Administration and marketing costs Indirect manufacturing costs $ 4,200 35,750 1,080 2,110 12,200 4,120 On December 31, year 1, direct materials inventory consisted of 4,200 pounds of material. Production in...
Mary's Mugs produces and sells various types of ceramic mugs. The business began operations on January 1 year 1, and its costs incurred during the year include these: Variable costs (based on mugs produced) Direct materials cost Direct manufacturing labor costs Indirect manufacturing costs Administration and marketing Fooed costs: Administration and marketing costs Indirect manufacturing costs $ 3.600 31,500 1.140 2,010 11,700 4.200 On December 31. year 1, direct materials inventory consisted of 3.000 pounds of material Production in that...
ALASKA MANUFACTURING began its first year of operations on January 1, 2018. Costs incurred for 2018 were as follows: $147,600 Variable Direct materials used Direct manufacturing labor cots 38,400 Variable Plant energy costs 2,000 Variable Indirect manufacturing labor costs 14,000 Variable Indirect manufacturing labor costs Other indirect production costs 19,000 Fixed 11,000 Variable Other indirect production costs 14,000 Fixed Marketing, distribution and customer-service costs 128,000 Variable Marketing, distribution and customer-service costs 48,000 Fixed 56,000 Fixed Administrative costs Variable manufacturing costs...
Westlake, Inc. produces metal fittings for the aerospace
industry. The administrative and manufacturing operations occupy
the same 200,000 square foot building. The manufacturing plant uses
150,000 square feet. Depreciation is assigned based on building
use. Indirect labor represents 15 percent of the total
manufacturing plant labor.
The financial information for the year just ended is shown as
follows.
.
1. Prepare a cost of goods manufactured and
sold statement.
There are mistakes in this answer, so I need the full...
2-45 Comprehensive problem on unit costs, product costs. Atlanta Office Equipment manufactures and sells metal shelving. It began operations on January 1, 2017. Costs incurred for 2017 are as follows (V stands for variable; F stands for fixed): Direct materials used Direct manufacturing labor costs Plant energy costs Indirect manufacturing labor costs Indirect manufacturing labor costs Other indirect manufacturing costs Other indirect manufacturing costs Marketing, distribution, and customer-service costs Marketing, distribution, and customer-service costs Administrative costs $140,000 V 22,000 V...
Need major help on requirements 1-4 please!!
Atlanta Office Equipment manufactures and sells metal shelving. It began operations on January 1, 2017 : (Click the icon to view the costs incurred during 2017.) : (Click the icon to view the inventory data.) Revenues in 2017 were $475,200. The selling price per unit and the purchase price per pound of direct materials were stable throughout the year. The company's ending inventory of finished goods is carried at the average unit manufacturing...
Most questions answered within 3 hours.
-
The average length of time between arrivals at a turnpike
toll-booth is 26 seconds. What is...
asked 45 minutes ago -
(a) A piston at 6.1 atm contains a gas that occupies a volume of
3.5 L....
asked 1 hour ago -
Please answer true or false. Words
cannot be changed or added in to make it true...
asked 1 hour ago -
An empty test tube weighs 15.923 grams. Then,
MgCl2•6H2O is added into the test tube. After...
asked 1 hour ago -
Assume memory access is 10 units of time and disk access is
10000 units of time....
asked 2 hours ago -
1. Are all good samples random?
2. Magazines often report surveys giving statistics such as “63%...
asked 2 hours ago -
Under all the various types of market structures, firms
must eventually earn some economic profits for...
asked 2 hours ago -
Consider the following fitness regime for a single locus trait
with two co-dominant alleles: w11 =...
asked 2 hours ago -
A large cable company reports the following.
80% of its customers subscribe to its cable TV...
asked 2 hours ago -
Please answer the question in brief.
Discuss the role of ERP in organizations. Are ERP tools...
asked 2 hours ago -
Discuss the pros and cons of collaborative software such
as SameTime. Does it increase productivity? What...
asked 2 hours ago -
Buying your in-laws a gift because it’s expected is
due to the ____________ motive of gift-giving....
asked 2 hours ago