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can I please get some help with this? Brown-Accountants Company creates, produces, and sells CD-ROM based CPA review courses for individual use. Zoe Banks, head
can I please get some help with this?
Brown-Accountants Company creates, produces, and sells CD-ROM based CPA review courses for individual use. Zoe Banks, head of human resources, is convinced that question development employees must have strong analytical and problem-solving skills. She asked Christopher Williams, controller for Brown-Accountants Company, to help develop problems for use in screening applicants before they are interviewed. problems Christopher developed is based on the following data for a mythical company for the previous year A. Conversion cost was $240,000 and was three times the prime costs. B. Direct materials used in production equaled $45,000 C. Cost of goods manufactured was $295,000. D. Ending work in process is 20 percent of the cost of beginning work in process. E. There are ending is 2 times beginning for direct materials. F. Cost of goods sold was 80 percent of cost of goods manufactured. G. Beginning finished goods inventory was $14,400. H. Supervision and indirect labor is 4 times material handling costs. I. Supplies are $37,000, which is 40 percent of the costs of utilities. J. Freight-in on materials is $1000. Statement of Cost of Goods Manufactured For the Year Ended December 31 Direct materials Direct materials beginning inventory Add: Purchases Freight-in on materials Materials available Less: Direct materials ending inventory Direct materials used Direct labor cost Overhead: Material handling Supplies Utilities Supervision and indirect labor Total overhead cost Total current manufacturing costs added Add: Beginning work in process Total manufacturing costs to account for Less: Ending work in process Cost of goods manufactured Statement of Cost of Goods Sold For the Year Ended December 31 Cost of goods manufactured Add: Beginning finished goods inventory Cost of goods available for sale Less: Ending finished goods inventory Cost of goods sold Page 9 of 9Step by Step Solution
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