1. The following data have been taken from the accounting records of Larder Corporation for the just completed year. .. . *** Sales Purchases of raw materials..... Direct labor...... Applied Manufacturing overhead. Administrative expenses ... Selling expenses.............. Raw materials inventory, beginning.. Raw materials inventory, ending Work in process inventory, beginning Work in process inventory, ending ... Finished goods inventory, beginning.. Finished goods inventory, ending $1,900,000 $320,000 $355,000 $340,000 $325,000 $210,000 $140.000 $190,000 $115.000 $150.000 $175,000 $140,000 Required: a. Prepare a Schedule of Cost of Goods Manufactured in good form. b. Compute the cost of Goods Sold. c. Using data from your answers above, prepare an Income Statement (using the traditional format). 2. Gonzalez, Inc. manufactures stereo speakers in two factories; one in Vandalia, Illinois and another in Merced, California. The Vandalia factory uses direct labor hours (DLHs) for its overhead rate and the Merced factory uses machine-hours (MHs) for its overhead rate. Information related to both plants for last year is presented below: Estimated manufacturing overhead Estimated amount of allocation base Predetermined overhead rate.. Actual amount of allocation base....... Actual manufacturing overhead Applied manufacturing overhead Under or overapplied overhead (indicate the dollar amount and whether it is over or underapplied) Vandalia factory $4,125,000 (a) $25 per DLH (b) $4,115,000 $4,225,000 Merced factory $2,625,000 150,000 MHS (d) 147.000 MHz $2,585,000 Required: Fill in the lettered blanks above. 3. Anchor Inc. uses the weighted average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. Work in process, beginning Units in process. 5.000 Costs in the beginning inventory Materials cost. Conversion cost. $281,250 $50,000 Units started into production during the month Units completed and transferred out. 130,000 110,000 Costs added to production during the month Materials cost. Conversion cost. $500,000 $400,000 Work in process, ending Units in process % of completion with respect to materials % of completion with respect to conversion 25,000 60% 40% Required: Prepare a process costing departmental production report (calculation of equivalent units, cost per equivalent unit, and cost reconciliation) for the department using the weighted average method. Round the cost per unit to the nearest cent. 4. The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: $ Amount 166,400 208 pairs 800 42 10 Sales Sales in units Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases USA 23,000 28.000 40,000 30,000 115,000 $ Note: to calculate COGS you will need to use the following equation: Beg. Merch. Inventory + Merch. Purchases - End. Merch. Inventory COGS is a variable expense Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. 3. What was the contribution margin per unit