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How of Costs and Income Statement Technology Accessories Inc. is a designer, manufacturer and distributor of accessories for consumer electronic products. Early in 2013, the company began production of a leather cover for tablet computers, Leather. The cover is made of stitched leather with a velvet interior and its snugly around most tablet computers. In January, 1758,000 was spent on developing marketing and advertising materials. For the fir months of 2013, the company spent an additional $1,410,000 promoting the Leather. The product was ready for manufacture on January 21, 2013. Technology Accessories Inc. uses a job order cost system to accumulate costs for the Leather. Direct materials unit costs for the Leather are as follows: Leather $10.00 Velvet 5.00 Packaging 0.40 Total $15.40 fairly straightforward. First, leather is brought to a cutting and stitching machine. The machine cuts the leather and stitches an exterior edge into the product. The The actual production process for the Leather machine requires one hour per 125 Leathers. After the leather is cut and stitched, it is brought to assembly, where assembly personnel affor the velvet interior and pack the Leather for shipping. The direct labor cost for this work is 50.50 per unit The completed packages are then sold to retail outlets through a salesforce. The sales force is compensated by a 20% commission on the wholesale price for all sales. Total completed production was 540,000 units during the year. Other information is as follows: Number of Leather units sold in 2013 500,000 Wholesale price per unit Factory overhead cost is applied to jobs at the rate of $1,250 per machine hour. There were anational 22.000 out and stitched leather waiting to be assembled on December 1, 2013 in your computations required, round interim per unit costs to two decimal places and final answers to the nearest whole dollar. Required: 1. Prepare an income statement for the Leather product Technology Accessories Inc. Income Statement for the Year Ended December 31, 2013 Su Test for Grant on was 540,000 units during the year Other Wormation is Number of leather is sold in 2013 500,000 Wholesale priceperunt Factory overhead cost is applied to jobs at the rate of $1,250 per machine hour. There were your c o ns, required, rounder per un costo decimal places and 140 20.000 d Required: e others wating to to the 1. Prepare a com m ent for the Technology Ac n e Income Statement thermoduct Cost of Goods Sold 2. Determine the balance in the shado w All word How of Costs and Income Statement Technology Accessories Inc. is a designer, manufacturer and distributor of accessories for consumer electronic products. Early in 2013, the company began production of a leather cover for tablet computers, Leather. The cover is made of stitched leather with a velvet interior and its snugly around most tablet computers. In January, 1758,000 was spent on developing marketing and advertising materials. For the fir months of 2013, the company spent an additional $1,410,000 promoting the Leather. The product was ready for manufacture on January 21, 2013. Technology Accessories Inc. uses a job order cost system to accumulate costs for the Leather. Direct materials unit costs for the Leather are as follows: Leather $10.00 Velvet 5.00 Packaging 0.40 Total $15.40 fairly straightforward. First, leather is brought to a cutting and stitching machine. The machine cuts the leather and stitches an exterior edge into the product. The The actual production process for the Leather machine requires one hour per 125 Leathers. After the leather is cut and stitched, it is brought to assembly, where assembly personnel affor the velvet interior and pack the Leather for shipping. The direct labor cost for this work is 50.50 per unit The completed packages are then sold to retail outlets through a salesforce. The sales force is compensated by a 20% commission on the wholesale price for all sales. Total completed production was 540,000 units during the year. Other information is as follows: Number of Leather units sold in 2013 500,000 Wholesale price per unit Factory overhead cost is applied to jobs at the rate of $1,250 per machine hour. There were anational 22.000 out and stitched leather waiting to be assembled on December 1, 2013 in your computations required, round interim per unit costs to two decimal places and final answers to the nearest whole dollar. Required: 1. Prepare an income statement for the Leather product Technology Accessories Inc. Income Statement for the Year Ended December 31, 2013 Su Test for Grant on was 540,000 units during the year Other Wormation is Number of leather is sold in 2013 500,000 Wholesale priceperunt Factory overhead cost is applied to jobs at the rate of $1,250 per machine hour. There were your c o ns, required, rounder per un costo decimal places and 140 20.000 d Required: e others wating to to the 1. Prepare a com m ent for the Technology Ac n e Income Statement thermoduct Cost of Goods Sold 2. Determine the balance in the shado w All word