Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cost of Goods Manufactured Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 50,000 units will be produced, with the following

image text in transcribedimage text in transcribedimage text in transcribed

Cost of Goods Manufactured Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 50,000 units will be produced, with the following total costs: Direct materials ? Direct labor $75,000 Variable overhead 18,000 Fixed overhead 220,000 Next year, Pietro expects to purchase $126,500 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Direct materials Work-in-Process Inventory Inventory Beginning $6,000 $10,800 Ending $5,900 $12,800 Required: 1. Prepare a statement of cost of goods manufactured. Pietro Frozen Foods, Inc. Statement of Cost of Goods Manufactured For the Coming Year Direct materials Materials available Direct materials used in production Total manufacturing costs added Cost of goods manufactured 2. What if the ending inventory of direct materials increased by $1,800? Indicate the affect that this would have on the items listed below: Direction of change Amount Direct materials used by Total manufacturing costs by Cost of goods manufactured by S S

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Public Sector Accounting And Budgeting For Non-Specialists

Authors: G. Jan Van Helden, Ron Hodges

1st Edition

1137376988, 9781137376985

More Books

Students also viewed these Accounting questions

Question

How did you get 141,800 for q4 beginning cash

Answered: 1 week ago

Question

Create a Fishbone diagram with the problem being coal "mine safety

Answered: 1 week ago

Question

Describe the Big Five personality dimensions.

Answered: 1 week ago

Question

Identify three personal human relations goals for the course.

Answered: 1 week ago