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Cost det and analysis HW- Feb 1 - Add Beginning work in...

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1 Jordan Company Statement of Cost of Goods Manufactured For the Year Ended December 31, 2010 Direct materials: Beginning inventory  $380,000.00  Add: Purchases  $1,675,000.00  Materials available  $2,055,000.00  Less: Ending inventory  $(327,000.00) Direct materials used in production  $1,728,000.00  Direct labor  $2,000,000.00  Manufacturing overhead: Indirect labor  $790,000.00  Depreciation on building  $1,100,000.00  Depreciation on equip.  $630,000.00  Utilities  $150,000.00  Insurance  $200,000.00  Property taxes  $65,000.00   $2,935,000.00  Total manufacturing costs added  $6,663,000.00 
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Unformatted text preview: Add: Beginning work in process $450,000.00 Less: Ending work in process $750,000.00 Cost of goods manufactured $6,363,000.00 2 $6,363,000.00 $150,000.00 = $42.42 per floor lamp 3 Jordan Company Income Statement For the Year Ended December 31, 2010 Sales $7,050,000.00 Less: Cost of goods sold $5,981,220.00 Gross margin $1,068,780.00 Less operating expenses: Research and development $120,000.00 Selling $455,000.00 Administrative $390,000.00 $965,000.00 Operating Income $103,780.00...
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