chap 2 - Sales Revenue Cost of good sold Gross Margin Less:...

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Sales Revenue $418,000 Cost of good sold (229,200) Gross Margin 188,800 Less: Selling and Administrative expense (116,500) Administrative costs $87,500 Sales commission 29,000 Operating profit before taxes 72300 Begining work-in-process inventory, $30,800 Manufacturing costs during the year: Direct material: Begining raw-material inventroy, January 1 $36,800 ADD: Purchases of raw material 44,600 Raw material available for use 81,400 LESS: Ending raw-material inventory, December 31 (38,000) Direct material put into production $43,400 Direct labor 71,200 Manufacturing overhead Manufacturing building depreciation 54,000 indirect material and supplies 12,600 Supervisory and indirect labor 28,800 Property taxes, manufacturing plant 16,800 Plant Utilities and Power 47,000 Total Manufacturing overhead 159,200 Total manufacturing costs incurred 273,800 Total cost of work in process during the year 304,600 LESS: Ending work in process December 31 (26,200) Cost of good Manufacturing during the year 224,400 Begining finished-goods inventory Jan1 21,800 Finished-goods inventory available for sale 246,200 LESS: Ending finished-goods inventory, December 31 (17,000) Cost of goods sold $229,200
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This note was uploaded on 12/03/2010 for the course BUSINESS bus 165 taught by Professor Park during the Spring '10 term at UC Riverside.

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chap 2 - Sales Revenue Cost of good sold Gross Margin Less:...

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