978-0134642444

entory, 3/31/2017 24 Comprehensive problem on unit costs, product costs. Atlanta Office Equipment manufactures sells metal shelving It began operations on January 1, 2017, Costs incurred for 2017 areas tollowsev for variable, F stands for fixed): stands Direct materials used Direct manufacturing labor cost:s Plant energy costs Indirect manufacturing labar costs Indirect manufacturing labor costs Other indirect manufacturing costs Other indirect manufacturing costs Marketing, distribution, and customer-service costs Marketing, distribution, and customer-service costs $140,000V 22,000 V 5,000 V 18,000 V 14,000 F 8,000 V 26,000 F 120,000 V 43,000 F 54,000 F Administrative costs Variable manufacturing costs are variable with respect to units produced. Variable marketing, distribution, and customer-service costs are variable with respect to units sold. Inventory data are as follows: Beginning: January 1,2017 Ending: December 31, 2017 Direct materials Work in process Finished goods 0 lb 0 units 0 units 2,300 lbs 0 units ? units Production in 2017 was 100,000 units. Two pounds of direct materials are used to make one unit of finisherd product Revenues in 2017 were $473,200. The selling price per unit and the purchase price per pound of direct materials were stable throughout the year. The company's ending inventory of finished goods is carried at the average unit manufacturing cost for 2017. Finished-goods inventory at December 31, 2017, was $20,970 1. Calculate direct materials inventory, total cost, December 31, 2017. 2. Calculate finished-goods inventory, total units, December 31, 2017 3. Calculate selling price in 2017 4. Calculate operating income for 2017