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Test 1 - Managerial Online.xlsx - Managerial Accounting...

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Managerial Accounting - Test 1 (Chapters 1-4) Exel Part - 50 points When completed, place back in drop box. Show all your work! Problem 1 (15 points) Prepare the Statement of Cost of Goods Manufactured and Income statement with the Cost of Goods sold. Produced 5000 chairs Sell for $2 per chair Company Name Beg. FG is 200 chairs Statement of Cost of Goods Manufactured Ending FG = 100 cha For Last Year Direct materials used 2,200 Purchase of Materials Direct labor 4,800 Beg. Materials Inv. = $ Manufacture overhead Ending Materials Inv. Indirect labor 500 DL = $4,800 Rent, factory building 1,000 Indirect Labor = $500 Dep., factory equipment 100 Rent on Factory = $1, Utilities for factory 400 2,000 Dep. On Factory equi Total cost in product 8,800 Utilities for factory = $ Beginning WIP 1,200 Salary of sales Super End WIP -1,400 Commission of Sales Cost of goods manufactured 8,800 General Administratio Beg. WIP = $1,200 Ending WIP = $1,400 Beg. F.G. = $352
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Ending F.G. = $176 Part 2 - Average cost of One Unit = 1.76
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Part 3 Company Name Income Statement For Last Year Sales 10,200 Cost of goods sold 8,976 Gross Margin 1,224 Less:
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