Boyd Corporation is a manufacturer that uses job-order costing. On January 1,2024 , the company's inventory balances were as follows: The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, 2024, the company's predetermined overhead rate per direct labor-hour was based on a cost formula that estimated $915,000 of total manufacturing overhead for an estimated activity level of 89,000 direct labor-hours. 20 6. Complete the Cost of Goods Sold schedule for 2024. 7. Prepare the income statement in good form for Boyd for 2024. The company sold 610 units in 2024 . Use the information given to calculate the following for 2024: Use the information provided, the high low method and the contribution margin approach to prepare a contribution format income statement for 2024 (you only 8 have two levels of activity, 2023 and 2024) Use the contribution margin approach to compute the company's annual 9 breakeven point in units. Use the contribution margin ratio approach to compute the breakeven point in 10 sales dollars. Use the contribution margin approach to compute the annual sales level (in units) 11 required to earn a target operating income. Use the contribution margin approach to compute the annual increase in net 12 operating income if sales increase by 1 unit. Use the contribution margin approach to compute the change in net operating 13 income given a specific scenario. Use the contribution margin approach to compute the change in net operating income 14 given a specific scenario. Use the contribution margin approach to compute the change in net operating income 15 given a specific scenario. Use the contribution margin approach to calculate margin of safety in dollars, as 16 a percent and in units. Use the contribution margin approach to calculate operating leverage. What is the estimated percent increase in net income if sales increase? What is the New 17 Operating Income? The following transactions were recorded for the year: a Raw materials were purchased on account, $640,000. 640000 Raw materials used in production, $615,000. All of the raw materials were used as direct b materials. 615000 The following costs were accrued for employee services: direct labor, $730,000; indirect labor, c $280,000; selling and administrative salaries, $360,000. 360000 Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and d finished goods warehousing), $402,000. e Incurred various manufacturing overhead costs (e.g., rent, insurance, and utilities), $635,000. 402000 Manufacturing overhead cost was applied to production. The company actually worked 57,000 f direct labor-hours on all jobs during the year. 635000 Jobs costing $1,825,000 to manufacture according to their job cost sheets were completed 57000 g during the year. 1825000 Jobs were sold on account to customers during the year for a total of $2,995,000. The jobs h cost $1,835,000 to manufacture according to their job cost sheets. 2995000 1835000 Boyd Corporation is a manufacturer that uses job-order costing. On January 1,2024 , the company's inventory balances were as follows: The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, 2024, the company's predetermined overhead rate per direct labor-hour was based on a cost formula that estimated $915,000 of total manufacturing overhead for an estimated activity level of 89,000 direct labor-hours. 20 6. Complete the Cost of Goods Sold schedule for 2024. 7. Prepare the income statement in good form for Boyd for 2024. The company sold 610 units in 2024 . Use the information given to calculate the following for 2024: Use the information provided, the high low method and the contribution margin approach to prepare a contribution format income statement for 2024 (you only 8 have two levels of activity, 2023 and 2024) Use the contribution margin approach to compute the company's annual 9 breakeven point in units. Use the contribution margin ratio approach to compute the breakeven point in 10 sales dollars. Use the contribution margin approach to compute the annual sales level (in units) 11 required to earn a target operating income. Use the contribution margin approach to compute the annual increase in net 12 operating income if sales increase by 1 unit. Use the contribution margin approach to compute the change in net operating 13 income given a specific scenario. Use the contribution margin approach to compute the change in net operating income 14 given a specific scenario. Use the contribution margin approach to compute the change in net operating income 15 given a specific scenario. Use the contribution margin approach to calculate margin of safety in dollars, as 16 a percent and in units. Use the contribution margin approach to calculate operating leverage. What is the estimated percent increase in net income if sales increase? What is the New 17 Operating Income? The following transactions were recorded for the year: a Raw materials were purchased on account, $640,000. 640000 Raw materials used in production, $615,000. All of the raw materials were used as direct b materials. 615000 The following costs were accrued for employee services: direct labor, $730,000; indirect labor, c $280,000; selling and administrative salaries, $360,000. 360000 Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and d finished goods warehousing), $402,000. e Incurred various manufacturing overhead costs (e.g., rent, insurance, and utilities), $635,000. 402000 Manufacturing overhead cost was applied to production. The company actually worked 57,000 f direct labor-hours on all jobs during the year. 635000 Jobs costing $1,825,000 to manufacture according to their job cost sheets were completed 57000 g during the year. 1825000 Jobs were sold on account to customers during the year for a total of $2,995,000. The jobs h cost $1,835,000 to manufacture according to their job cost sheets. 2995000 1835000