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Maryville Inc. incurred the following costs during August: Raw materials used Direct labor Manufacturing overhead, actual Selling expenses Administrative expenses Interest expense $ 36,900 82,600
Maryville Inc. incurred the following costs during August: Raw materials used Direct labor Manufacturing overhead, actual Selling expenses Administrative expenses Interest expense $ 36,900 82,600 49,500 21,560 18,940 9,400 During the month, 6,500 units of product were manufactured and 4,600 units of product were sold. On August 1, Maryville carried no inventories. On August 31, there were no inventories other than finished goods. Required: a. Calculate the cost of goods manufactured during August and the average cost per unit of product manufactured. b. Calculate the cost of goods sold during August. c. Calculate the difference between cost of goods manufactured and cost of goods sold. How will this amount be reported in the financial statements? d. Prepare a traditional (absorption) income statement for Maryville for the month of August. Assume that sales for the month were $238,731 and the company's effective income tax rate was 35%. Complete this question by entering your answers in the tabs below. Req A and B Reqc Reg D a. Calculate the cost of goods manufactured during August and the average cost per unit of product manufactured. b. Calculate the cost of goods sold during August. (Do not round intermediate calculations.) a. Cost of goods manufactured Average cost per unit Cost of goods sold b
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