(1.) The following financial information (in thousands) pertains to Firm L for Year 2012:

Sales ...................................... $ 2,275

Purchases, Raw Materials.......... 560

Direct Labor............................... 610

Manufacturing Overhead........... 660

Administrative Expenses........... 300

Selling Expenses........................ 280

BI, Raw Materials...................... 30

EI, Raw Materials...................... 90

BI, W-I-P.................................... 40

EI, W-I-P.................................... 110

BI, Finished Goods.................... 200

EI, Finished Goods.................... 270

Based on the aforementioned information, please present a schedule for Cost of Goods Used

(COGU).

(2.) Based upon the information in the preceding problem, please present a schedule for

Cost of Goods Manufactured (COGM).

(3.) Based upon the information in the preceding problems, please present a schedule for

Cost of Goods Sold (COGS).

(4.) Based upon the information in the preceding problems, please present a Traditional Income Statement (as appropriate).

(5.) Based upon the immediately preceding problems, please present a Managerial Income

Statement assuming that 50% of the Total Cost of Operations are Variable Costs.

(6.) Based upon the immediately preceding problems, please present the Balance Sheet

(re)presentation as appropriate.

(7.) Based upon the immediately preceding problems, please determine the (Total) Conversion Costs for the period.

(8.) Based upon the immediately preceding problems, please determine the Break-Even

Point for the firm as appropriate.