Question
Consider the following data of the campbell company for the year 2016: sandpaper: $2000 materials handling costs: $70000 lubricants and coolants: $5000 Miscellaneous and manufacturing
Consider the following data of the campbell company for the year 2016:
sandpaper: $2000
materials handling costs: $70000
lubricants and coolants: $5000
Miscellaneous and manufacturing labor: $40000
Direct manufacturing labor: $300,000
Direct materials, Jan 1 2016; $40,000
Finished goods Jan 1, 2016: $100,000
Finished goods Dec 31, 2016: $150,000
Work in process Jan 1,2016: $10,000
Work in process Dec 31,2016: $14,000
plant leasing costs: $54,000
Depreciation plant equipment: 36,000
property taxes on plant equipment: 4000
fire insurance on plant equipment: 3000
Direct materials purchased: 460,000
Direct materials, Dec 31, 2016: 50,000
Sales: 1,260,000
sales commissions: 60,000
sales salaries: 100,000
Shipping costs: 70,000
Administration costs: 100,000
1) Prepare an income statement with a separate supporting schedule of costs of goods manufactured....
2) Suppose the direct materials costs are tied to a production of 900,000 units. what is the unit cost for the direct materials assigned to each unit produced ??
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