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HI, I need guidance on how to do calculations for these Homewirk Pracrice Questions. Thank you for your help. Question 1: Foress Polish manufactures a

HI, I need guidance on how to do calculations for these Homewirk Pracrice Questions. Thank you for your help.

Question 1:

Foress Polish manufactures a single product in one department and uses a process costing system. At the start of May, there were 10,400 units in process that were 100 percent complete with respect to direct material and 50 percent complete with respect to conversion costs (labor and overhead). During the month, the company began production of 100,000 units. Ending Work in Process inventory consisted of 5,100 units that were 100 percent complete with respect to material and 80 percent complete with respect to conversion costs.

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Beginning Costs Cost Work in Added in Information Process May Direct $5,000 $66,760.00 material Direct labor 240 8,510.40 Manufacturing 230 8,520.40 overhead Total $5,470 $83,790.80Indigo Multimedia Profitability Analysis For the Year Ended December 31, 2020 Audio Video Car Total Sales $2,926,000 $1,906,000 $1,291,000 $6,123,000 Less variable costs: Cost of 1,872,640 1,315,140 593,860 3,781,640 merchandise Salary, part- 175,560 95,300 time staff 51,640 322,500 Total variable 2,048,200 1,410,440 645,500 4,104,140 costs Contribution 877,800 495,560 645,500 2,018,860 margin Less direct fixed costs: Salary, full- 315,300 time staff 233,000 218,600 766,90 Total $562,500 $262,560 $426,900 $1,251,960 Less common fixed costs: Advertising 118,700 Utilities 25,900 Other administrative 513,800 costs Total common 658,400 fixed costs Profit $593,560

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