3.) 4.)

Kildeer Company makes easels for artists. During the last calendar year, a total of 28,000 easels were made, and 29,000 were sold for $56 each. The actual unit cost is as follows: Direct materials $13.00 Direct labor 4.00 Variable overhead 11.00 Fixed overhead 14.00 Total unit cost $42.00 The selling expenses consisted of a commission of $1.10 per unit sold and advertising co-payments totaling $91,000. Administrative expenses, all fixed, equaled $178,000. There were no beginning and ending work-in-process inventories. Beginning finished goods inventory was $168,000 for 4,000 easels. Required: 1. Calculate the number and the dollar value of easels in ending finished goods inventory. Ending units Dollar amount 2. Prepare a cost of goods sold statement. Kildeer Company Statement of Cost of Goods Sold For the Year Ended December 31 Cost of goods sold Beginning finished goods inventory Cost of goods available for sale Cost of goods manufactured Cost of goods sold Ending finished goods inventory 3. Prepare an absorption-costing income statement. In addition to dollar amounts, enter the amounts as a percent, rounded to two decimal places. For example, .5235 would be 52.35% and you would enter 52.35 as your answer. Kildeer Company Income Statement: Absorption Costing For the Year Ended December 31 Percent % dll % % Less operating expenses: % % 4. How Kildeer's accountants might utilize one or more data analytic types (descriptive, diagnostic, predictive, or prescriptive), along with its absorption-costing income statement, to improve various decisions involving its easels (refer to Exhibit 2.5 and Exhibit 2.6 for a review of data analytic types). data analytics would inform accountants as to any historic trends in the easels' sales revenues, cost of goods sold, and profitability. data analytics, such as an analysis of the easel's significant cost drivers, would inform accountants as to why the easels incur their current costs given existing production technologies and so forth. data analytics, such as sales or cost of goods sold forecasting models, would help accountants better predict future trends in the easels' sales, costs, and profitability. analytics, such as Monte Carlo simulations, should help accountants to more effectively reduce the future product cost of manufacturing easels, as well as full cost across the value chain of designing, delivering, and Finally, servicing easels. Administrative expenses Beginning finished goods inventory Commissions Ending finished goods inventory Sales Descriptive Diagnostic Predictive Prescriptive