Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Direct materials purchased Direct materials used Direct labor Manufacturing overhead Cost of finished goods manufactured (150 trailers) During the year, 150 completed trailers were manufactured,

Direct materials purchased Direct materials used Direct labor Manufacturing overhead Cost of finished goods manufactured (150 trailers) During the year, 150 completed trailers were manufactured, of which 120 were sold. (Assume that the ending Finished Goods Inventory and the Cost of Goods Sold amounts are determined using the average per-unit cost of manufacturing a completed trailer.) Required: a-1. Compute the average per-unit cost of manufacturing a completed trailer during the current year. a-2. Compute the year-end balances of the inventories of materials, work in process, and finished goods, a-3. Compute the cost of goods sold during the year. b. During the year, the costs of direct materials purchased, direct labor assigned to production, and actual manufacturing overhead total $1,566,000. Is this the amount of manufacturing costs deducted from revenue in the current year? $ 882,000 798,000 228,000 456,000 1,170,000 Complete this question by entering your answers in the tabs below. Req A1 Reg A2 Req A3 Req B Compute the average per-unit cost of manufacturing a completed trailer during the current year. Average cost per unit
image text in transcribed
During the year, 150 completed trailers were manufactured, of which 120 were sold. (Assume that the ending Finished Goods Inverttory and the Cost of Goods Sold amounts are determined using the average per-unit cost of manufacturing a completed trater) Required: -1. Compute the average per-unit cost of manufacturing a completed trailer during the current year. 2. Compute the year-end balances of the imventories of materials, work in process, and finished goods. -3. Compute the cost of goods sold during the yeat. 2. During the year, the costs of direct materiais purchased, direct labor assigned to production, and actual manufacturing overhead otal $1,566,000. is this the amount of manufacturing costs deducted from revenue in the current year? Complete this question by entering your answers in the tabs below. Compute the average per-unit cost of manufacturing a completed trailer during the current year

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

Auditing Cases An Interactive Learning Approach

Authors: Steven M Glover, Douglas F Prawitt

4th Edition

0132423502, 978-0132423502

More Books

Students also viewed these Accounting questions

Question

What is the difference between persistence and self-determination?

Answered: 1 week ago

Question

Contrast intelligence and emotional intelligence.

Answered: 1 week ago

Question

Briefly describe four guides to ethical decision-making

Answered: 1 week ago