04. Troy Corp sells a number of products to groups that provide educational workshops and seminars. One of the products involves a combination leather case and note pad. The company purchases the case and pad combination from a supplier and encloses a $3 pen that contains th educational groups' name and logo. Troy Corp. began to carry this product at the start of 20x3, acquiring 12,500 cases from Executive Supply for $87,500 along with an identical number of pens from Accent Goods. During 20x3, 9,500 of the cases and pens were issued to Troy's assembly operation where the pen is added. Eighty percent of these cases were completed as of December 31, and a review the December 31 finished-goods inventory found 2,600 completed cases in the warehouse. Conversations with salespeople revealed that 70 finished sets were used in various company Selling and administrative salaries Building depreciation* Other selling and administrative expenses Other factory costs 250,000 330,000 80,000 Seventy percent of the company's building was devoted to production activities; the remaining 30% was used for selling and administrative functions. Farah's Pros beginning and ending work-in-process inventories amounted to $306,000 and $245,000, respectively. The company's beginning and ending finished-goods inventories were $450,000 and $440,000, respectively. Required: A. Calculate Farah's Pros manufacturing overhead for the year. B. Calculate Farah's Pros cost of goods manufactured C. Compute Farah's Pros cost of goods sold. roy Corp sells a number of products to groups that provide educational workshops and seminars. One of the products involves a combination leather case and note pad. The company purchases the case and pad combination from a supplier and encloses a $3 pen that contains the educational groups' name and logo. Troy Corp. began to carry this product at the start of 20x3, acquiring 12,500 cases from Executive Supply for $87,500 along with an identical number of pens from Accent Goods. During 20x3, 9,500 of the cases and pens were issued to Troy's assembly operation where the pen is added. Eighty percent of these cases were completed as of December 31, and a review of the December 31 finished-goods inventory found 2,600 completed cases in the warehouse. Conversations with salespeople revealed that 70 finished sets were used in various company Sales were $560,000, with sales prices determined by adding a 40% markup to the firm's manufacturing cost. The total cost of direct materials used, direct labor, and manufacturing overhead during the month was $285,000 Note: The materials account includes both direct materials and indirect materials. Required: Calculate the missing values. 04. Troy Corp sells a number of products to groups that provide educational workshops and seminars. One of the products involves a combination leather case and note pad. The company purchases the case and pad combination from a supplier and encloses a $3 pen that contains th educational groups' name and logo. Troy Corp. began to carry this product at the start of 20x3, acquiring 12,500 cases from Executive Supply for $87,500 along with an identical number of pens from Accent Goods. During 20x3, 9,500 of the cases and pens were issued to Troy's assembly operation where the pen is added. Eighty percent of these cases were completed as of December 31, and a review the December 31 finished-goods inventory found 2,600 completed cases in the warehouse. Conversations with salespeople revealed that 70 finished sets were used in various company Selling and administrative salaries Building depreciation* Other selling and administrative expenses Other factory costs 250,000 330,000 80,000 Seventy percent of the company's building was devoted to production activities; the remaining 30% was used for selling and administrative functions. Farah's Pros beginning and ending work-in-process inventories amounted to $306,000 and $245,000, respectively. The company's beginning and ending finished-goods inventories were $450,000 and $440,000, respectively. Required: A. Calculate Farah's Pros manufacturing overhead for the year. B. Calculate Farah's Pros cost of goods manufactured C. Compute Farah's Pros cost of goods sold. roy Corp sells a number of products to groups that provide educational workshops and seminars. One of the products involves a combination leather case and note pad. The company purchases the case and pad combination from a supplier and encloses a $3 pen that contains the educational groups' name and logo. Troy Corp. began to carry this product at the start of 20x3, acquiring 12,500 cases from Executive Supply for $87,500 along with an identical number of pens from Accent Goods. During 20x3, 9,500 of the cases and pens were issued to Troy's assembly operation where the pen is added. Eighty percent of these cases were completed as of December 31, and a review of the December 31 finished-goods inventory found 2,600 completed cases in the warehouse. Conversations with salespeople revealed that 70 finished sets were used in various company Sales were $560,000, with sales prices determined by adding a 40% markup to the firm's manufacturing cost. The total cost of direct materials used, direct labor, and manufacturing overhead during the month was $285,000 Note: The materials account includes both direct materials and indirect materials. Required: Calculate the missing values
