ACFI A30/530 Cost Accounting Problem set #1 Probiem \#1: External Reporting for a Manufacturing Company (46 points) Devo Dussert Topping Ce, manulactures and selks a fultrange of high-end dessert toppings and relatia. foodstuffs. The Company is the leader in its industry because it really knows how to whip it, whip it gat, I said "Whip it!" Presented below is information extracted from the accounting recerds of Devo Dessert Topping Co, for the unar nnded December 31. 2023: Devo Dessert Topping Co. had 50,000 shares of its common stock outstanding throughout 2023. The Company does not have preferred stock. Required: Compute the following amounts that Devo Dessert Topping Co. reported in lis 2023 GAAP financial statements. ACFI 430/530 Cost Accounting Problem Set an 1 Spring 2023 Page 5 of 21 9) Devo Dessert Topping Co. reported gross profit for 2023 in the armount: of (2paints) Supporting Calcutation Required: h) Devo Dessert Topping Co, reported total selting expenses for 2023 in the amount of: (4 peints) Supporting Caiculation Required: 1) Devo Dessert Topping Co. reported total general and administrative expenses for 2023 in the amount of: (5 points) Supporting Calculation Required: ACFI 430/530 Cost Accounting Problem Set 1 Spring 2023 Page 6 of 2t 1) Devo Dessert Topping Co. reported operating profit for 2023 in the amount of: (3 points) Supporting Calculation Required: k) Devo Dessert Topping Co, reported earnings before taxes for 2023 in the amount of: (3 points). Supporting Calculation Requiredt 1) Devo Dessert Topping Co, reported net earnings for 2023 in the amount of: (2 polnts) Supporting Calculation Requlred: n) Devo Dessert Topping Co, reported earnings per share for 2023 in the amount of: (2 pointe) Supporting Calculation Required: ACFI A30/530 Cost Accounting Problem set #1 Probiem \#1: External Reporting for a Manufacturing Company (46 points) Devo Dussert Topping Ce, manulactures and selks a fultrange of high-end dessert toppings and relatia. foodstuffs. The Company is the leader in its industry because it really knows how to whip it, whip it gat, I said "Whip it!" Presented below is information extracted from the accounting recerds of Devo Dessert Topping Co, for the unar nnded December 31. 2023: Devo Dessert Topping Co. had 50,000 shares of its common stock outstanding throughout 2023. The Company does not have preferred stock. Required: Compute the following amounts that Devo Dessert Topping Co. reported in lis 2023 GAAP financial statements. ACFI 430/530 Cost Accounting Problem Set an 1 Spring 2023 Page 5 of 21 9) Devo Dessert Topping Co. reported gross profit for 2023 in the armount: of (2paints) Supporting Calcutation Required: h) Devo Dessert Topping Co, reported total selting expenses for 2023 in the amount of: (4 peints) Supporting Caiculation Required: 1) Devo Dessert Topping Co. reported total general and administrative expenses for 2023 in the amount of: (5 points) Supporting Calculation Required: ACFI 430/530 Cost Accounting Problem Set 1 Spring 2023 Page 6 of 2t 1) Devo Dessert Topping Co. reported operating profit for 2023 in the amount of: (3 points) Supporting Calculation Required: k) Devo Dessert Topping Co, reported earnings before taxes for 2023 in the amount of: (3 points). Supporting Calculation Requiredt 1) Devo Dessert Topping Co, reported net earnings for 2023 in the amount of: (2 polnts) Supporting Calculation Requlred: n) Devo Dessert Topping Co, reported earnings per share for 2023 in the amount of: (2 pointe) Supporting Calculation Required
