I do not see where the answers for this is available? I was able to locate the question that is similar to mine, but not the solution.

Ch 2 Homework 1.value:5 points Swift Company was organized on March 1 of the current year. After five months of start-up losses, management had expected to earn a profit during August. Management was disappointed, however, when the income statement for August also showed a loss. August's income statement follows: Swift Company Income Statement For the Month Ended August 31 Sales $600,000 Less operating expenses: Direct labor cost $91,000 Raw materials purchased 190,200 Manufacturing overhead 211,005 Selling and administrative 140,595 632,800 expenses $(32,800) Net operating loss After seeing the $32,800 loss for August, Swift's president stated, "I was sure we'd be profitable within six months, but our six months are up and this loss for August is even worse than July's. I think it's time to start looking for someone to buy out the company's assets-if we don't, within a few months there won't be any assets to sell. By the way, I don't see any reason to look for a new controller. We'll just limp along with Sam for the time being." The company's controller resigned a month ago. Sam, a new assistant in the controller's office, prepared the income statement above. Sam has had little experience in manufacturing operations. Inventory balances at the beginning and end of the month were as follows: August 1 August 31 Raw materials $18,000 $42,000 Work in process $69,000 $85,000 Finished goods $22,000 $61,000 The president has asked you to check over the income statement and make a recommendation as to whether the company should look for a buyer for its assets. Requirement 1: As one step in gathering data for a recommendation to the president, prepare a schedule of cost of goods manufactured for August. (Omit the "$" sign in your response.) Swift Company Schedule of Cost of Goods Manufactured For the Month Ended August 31 Direct materials: $ : : Raw materials used in production Total manufacturing costs : $ : $ Cost of goods manufactured Requirement 2: As a second step, prepare a new income statement for August. (Omit the "$" sign in your response.) Swift Company Income Statement For the Month Ended August 31 $ Cost of goods sold: $ : : $ Requirement 3: Based on your statements prepared in requirement (1) and (2) above, would you recommend that the company continue operations? 2.value:5 points The Dorilane Company specializes in producing a set of wood patio furniture consisting of a table and four chairs. The set enjoys great popularity, and the company has ample orders to keep production going at its full capacity of 4,000 sets per year. Annual cost data at full capacity follow: Factory labor, direct Advertising Factory supervision Property taxes, factory building Sales commissions Insurance, factory Depreciation, administrative office equipment Lease cost, factory equipment Indirect materials, factory Depreciation, factory building Administrative office supplies (billing) Administrative office salaries Direct materials used (wood, bolts, etc.) Utilities, factory $86,000 $102,000 $67,000 $15,000 $59,000 $6,000 $1,000 $13,000 $16,000 $107,000 $4,000 $108,000 $434,000 $48,000 Requirement 1: Enter the dollar amount of each cost item under the appropriate headings. Note that each cost item is classified in two ways: first, as variable or fixed with respect to the number of units produced and sold; and second, as a selling and administrative cost or a product cost. (If the item is a product cost, it should also be classified as either direct or indirect as shown.) (Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.) Cost behavior Cost item Factory labor, direct Advertising Factory supervision Property taxes, factory building Sales commissions Insurance, factory Depreciation, administrative office equipment Lease cost, factory equipment Indirect materials, factory Depreciation, factory building Administrative office supplies Administrative office salaries Direct materials used Utilities, factory Selling or Administrative Variable $ Product Cost Cost Fixed $ $ Direct $ Indirect $ $ $ $ $ $ Total costs Requirement 2: Compute the average product cost of one patio set. (Round your answer to the nearest dollar amount. Omit the "$" sign in your response.) Average product $ per patio set cost Requirement 3: Assume that production drops to only 1,000 sets annually. Would you expect the average product cost per set to increase, decrease, or remain unchanged? Requirement 4: Refer to the original data. The president's brother-in-law has considered making himself a patio set and has priced the necessary materials at a building supply store. The brother-in-law has asked the president if he could purchase a patio set from the Dorilane Company "at cost," and the president agreed to let him do so. (a) Would you expect any disagreement between the president and brother-in-law over the price? (b) Because the company is operating at full capacity, what cost term used in the chapter might be justification for the president to charge the full, regular price to the brother-in-law and still be selling "at cost"? 3.value:5 points Supply the missing data in the following cases below. Each case is independent of the others. (Input all amounts as positive values. Omit the "$" sign in your response.) Case 1 2 3 4 $8,800 $5,800 $8,000 4,200 5,100 2,800 Schedule of Cost of Goods Manufactured Direct materials $7,200 Direct labor Manufacturing overhead 10,200 Total manufacturing costs 19,400 17,700 Beginning work in process inventory 2,900 2,200 Ending work in process inventory Cost of goods manufactured 12,000 21,100 3,600 4,000 2,000 $18,300 $22,300 $ $ $25,200 $39,800 $30,200 $50,300 6,100 8,500 9,100 18,300 22,300 31,500 Income Statement Sales Beginning finished goods inventory Cost of goods manufactured Goods available for sale Ending finished goods inventory 4,100 5,100 7,000 Cost of goods sold Gross margin 15,600 17,800 9,600 12,400 Selling and administrative expenses Net operating income 7,300 $3,500 $ $2,800 $6,900