Ch1 Problems

# Ch1 Problems - Less selling ex \$(80,000 NIBT \$40,000 10,000...

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Cost of Goods Mfgd Direct Materials Begin Inv \$7,000 Add: Purchs \$118,000 \$125,000 Less: End Inv \$(15,000) DM Used \$110,000 DL Used \$70,000 Mfg OH \$80,000 Total MFG Costs Incurred \$260,000 Add: WIP Begin \$10,000 \$270,000 Less: WIP End \$(5,000) COST OF GOODS MFGD \$265,000 Add: FGI Begin \$20,000 \$285,000 Less: FGI End \$(35,000) COST OF GOODS SOLD \$250,000

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Cost of Goods Mfgd Direct Materials Begin Inv \$9,000 Add: Purchs \$125,000 Qty \$134,000 Less: End Inv \$(6,000) Cost/unit VC DM Used \$128,000 \$12.80 \$128,000 DL Used \$70,000 \$7.00 \$70,000 Mfg OH \$105,000 \$1.50 \$15,000 Total MFG Costs Incurred \$303,000 \$21.30 \$213,000 Add: WIP Begin \$17,000 \$320,000 Less: WIP End \$(30,000) COST OF GOODS MFGD \$290,000 Qty Add: FGI Begin \$20,000 \$310,000 Cost/unit VC Less: FGI End \$(40,000) \$12.80 \$192,000 COST OF GOODS SOLD \$270,000 \$7.00 \$105,000 INCOME STATEMENT \$1.50 \$22,500 Sales \$500,000 \$21.30 \$319,500 Less: CGS \$(270,000) Gross Margin \$230,000 Less: adm exps \$(110,000)

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Unformatted text preview: Less: selling ex \$(80,000) NIBT \$40,000 10,000 FC Cost/unit \$90,000 \$90,000 \$9.00 TC/unit \$30.30 15,000 FC Cost/unit \$90,000 \$90,000 \$6.00 TC/unit \$27.30 Capacity 2000 ITEM VC FC SG&A Direct Labor \$118,000 Advertising \$50,000 \$50,000 Factory Supervision \$40,000 Prop Tax - Fact Bldg \$3,500 Sales Commission \$80,000 \$80,000 Insurance - Fact \$2,500 Deprec - Admin Office \$4,000 \$4,000 Lease - Fact Eq \$12,000 Ind Matls - Fact \$6,000 Deprec Fact Bldg \$10,000 Admin Office Supplies \$3,000 \$3,000 Admin Office Sal \$60,000 \$60,000 Direct Material \$94,000 Utilities - Fact \$20,000 TOTAL \$321,000 \$182,000 \$197,000 Product Costs 1000 Direct Indirect Cost/Unit Cost/Unit \$118,000 \$59.00 \$59.00 \$40,000 \$20.00 \$40.00 \$3,500 \$1.75 \$3.50 \$2,500 \$1.25 \$2.50 \$12,000 \$6.00 \$12.00 \$6,000 \$3.00 \$3.00 \$10,000 \$5.00 \$10.00 \$94,000 \$47.00 \$47.00 \$20,000 \$10.00 \$10.00 \$212,000 \$94,000 \$153.00 \$187.00...
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## This note was uploaded on 06/06/2011 for the course ACCT 226 taught by Professor Smith during the Spring '10 term at South Carolina.

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Ch1 Problems - Less selling ex \$(80,000 NIBT \$40,000 10,000...

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