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Could you please help explain what I did wrong with Requirement 2b? Principles of Accounting Il Nicholas Kingston & I 9/20/19 7:35 PM 2.7 Classify
Could you please help explain what I did wrong with Requirement 2b?
Principles of Accounting Il Nicholas Kingston & I 9/20/19 7:35 PM 2.7 Classify costs as fixed or variable and calculate total and average costs at different vol close 1 of 6 (complete) O correct 2endsum2 (similar to) Question Help Requirements 1. Show how to compute cost of goods manufactured Use the following amounts direct materials used (527000)direct labor (519.000), manufacturing overhead (525,000), beginning work in process inventory (510,000), and ending work in process inventory (58,000). 2. US Auto spent 5720 million in total to produce 90,000 cars this year. The 5720 million breaks down as follows. The company spent $180 million on feed costs to run its manufacturing plants and 56,000 of variable costs to produce each car. Next year, it plans to produce 100.000 cars using the existing production facilities Read the requirements related to US Auto Requirement 1. Show how to compute cost of goods manufactured Use the following amounts direct materials used ($27.000), direct labor ($19.000), manufacturing overhead (525,000), beginning work in process inventory ($10,000) and ending work in process inventory (58.000) Calculation of Cost of Goods Manufactured 10 000 19.000 Beginning work in process inventory P Manufacturing costs incurred Direct labor Direct materials used Manufacturing overhead Tatal manufacturing costs to account for 27.000 Les Ending work in process inventory Cost of goods manufactured (CGM Requirement 2a. What is the current average product cool per car this year? Choose from any list or enter any number in the input fields and then click check Answer Check Answer Requirement 2a. What is the current average product cost per car this year? Determine the formula, then calculate the current average product cost per unit. (Enter your answer to the nearest dollar.) Total costs 1 Current year's number of units = Current average product cost 5 720 million / 90,000 cars = $ 8,000 per car Requirement 2b. Assuming there is no change in fixed costs or variable costs per unit, what is the total forecasted cost to produce 100,000 cars next year? Determine the formula, then calculate the total forecasted costs. Forecasted total variable costs + Forecasted total fixed costs = Total forecasted costs $ 600 million + $ 180 million = $ 780 million Choose from any list or enter any number in the input fields and then click Check Answer 1 part remaining Clear All
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