Mansfield oko Egument manufactures and sols motal shelving. I began operations on January 1, 2020 Click the icon to view the costs incurred during 2020) Click the icon to view the inventory data Revenues in 2020 were $440.000 The selling price per unit and the purchase price per pound of direct materials were stable throughout the year. The company's ending inventory of finished goods is carried at the average unit manufacturing cost for 2020. Finished goods Inventory at December 31, 2020, was $23,000 Road the requirements Answ Requirement 1. Calculate direct materials inventory, total cost, December 31, 2020 Determine the formula, then calculate ending direct materials total cost Direct materials used in pounds Ending direct matras total con Requirement 2. Calculate freshed-goods inventory, total units, December 31, 2020 Before we calculate the units for ending finished goods, we will first calculate the total cost of goods manufactured it an input field is not used in the table, inave the input field empty, do not a 200) Manufacturing costs for 110,000 units with s Variable Feed Total Direct materials used Manufac Drect manufacturing labor costs ad on the quarter Piant gy costs uduatio Indirect manufacturing or con Other indirect manufacturing costs sw - X Data table Requirement 1. Calculate direct Determine the formula, then calc Direct materials used in pounds Requirement 2. Calculate finish Before we calculate the units for the input field empty; do not ente with s Costs incurred for 2020 are as follows (V stands for variable, F stands for fixed): Direct materials used $143,000 V Direct manufacturing labor costs $40,500 V Plant energy costs $2,000 V Indirect manufacturing labor costs $17,000 V Indirect manufacturing labor costs $13,000 F Other indirect manufacturing costs $8,500 V Other indirect manufacturing costs $29,000 F Marketing, distribution, and customer-service costs $121,000 V Marketing, distribution, and customer-service costs $40,000 F Administrative costs $52,000 F Variable manufacturing costs are variable with respect to units produced Variable marketing, distribution, and customer-service costs are variable with respect to units sold Manufad Hon th quarter ctuatio Direct materials used Direct manufacturing labor costs Plant energy costs Indirect manufacturing labor cos Other indirect manufacturing cos ver 2 cturing Calculator - X Data table Calculate direct mula, then calcu used in pounds Calculate finished Inventory data are as follows: Beginning: January Ending: December 1, 2020 31, 2020 Direct materials Olb 2,000 lbs Work in process O units O units Finished goods O units 7 units Production in 2020 was 110,000 units. Two pounds of direct materials are used to make one unit of finished product. not used in the table, leave ate the units for ply: do not enter sed aring labor costs ts turing labor costs Print Done anufacturing costs Time Romainima0.1447 we
