ACC 222 Managerial Accounting Assignment 1 Question: Yahoo Company Ltd. for the year ended has the...

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ACC 222 Managerial Accounting Assignment 1 Question: Yahoo Company Ltd. for the year ended has the following figures- Finished goods Inventory, Beginning $16,000 Finished goods Inventory, ending $14,000 Depreciation, factory $21,000 Administrative expenses Utilities, factory Maintenance, factory Supplies, factory $45,000 $12,000 $26,000 $6,000 Insurance, factory $7,000 Purchase of raw materials $72,000 Raw materials inventory, beginning $5,000 Raw materials inventory, ending $8,000 Direct labor $61,000 Indirect labor $32,000 Work in progress, beginning $13,000 Work in progress inventory, ending $14,000 Sales $355,000 Selling expenses $61,000 Required: Calculate Total manufacturing cost Cost of goods manufactured Cost of goods available for sale Cost of goods sold Income statement-Net operating income 2 ACC 222 Managerial Accounting Assignment 1 Question: Yahoo Company Ltd. for the year ended has the following figures- Finished goods Inventory, Beginning $16,000 Finished goods Inventory, ending $14,000 Depreciation, factory $21,000 Administrative expenses Utilities, factory Maintenance, factory Supplies, factory $45,000 $12,000 $26,000 $6,000 Insurance, factory $7,000 Purchase of raw materials $72,000 Raw materials inventory, beginning $5,000 Raw materials inventory, ending $8,000 Direct labor $61,000 Indirect labor $32,000 Work in progress, beginning $13,000 Work in progress inventory, ending $14,000 Sales $355,000 Selling expenses $61,000 Required: Calculate Total manufacturing cost Cost of goods manufactured Cost of goods available for sale Cost of goods sold Income statement-Net operating income 2