Homework Assignment No.1

Homework Assignment No.1 - Homework Assignment Number 1...

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Homework Assignment Student ___________________ Number 1 1. The following information is available for the Roberts Retail Store for the fiscal year ended December 31. Required: (A) Prepare a cost of goods sold statement for Roberts Retail Store. (B) Compute the gross margin for the fiscal year ended December 31.
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2. The following cost and inventory data were taken from the records of the Beca Company for the year: Costs incurred: Required: (A) Compute the cost of goods manufactured. (B) Prepare a cost of goods sold statement.
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3. The cost accountant for the Larsen Manufacturing Company has provided you with the following information for the month of July: Required: Compute the following per unit items, assuming the company produced and sold 5,000 units at a price of $210.00 per unit. (A) Total variable cost (B) Variable inventoriable cost (C) Full absorption cost (D) Full cost (E) Contribution margin (G) Gross margin (H) Profit margin
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4. Each column below is independent and for a different company. Use the data given, which refer to one year for each example, to find the unknown account balances.
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5. The Teal Company's total overhead costs at various levels of activity are presented below: Assume that the overhead costs above consist of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 9,000 direct labor hour level of activity is as follows:
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Homework Assignment No.1 - Homework Assignment Number 1...

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