Question
Materials Inventory (Jan. 1) $33,500 Work-in-process Inventory (Jan. 1) 28,100 Finished Goods Inventory (Jan. 1) 36,700 Cost of materials purchased 192,000 Total direct labor costs
Materials Inventory (Jan. 1) $33,500 Work-in-process Inventory (Jan. 1) 28,100 Finished Goods Inventory (Jan. 1) 36,700 Cost of materials purchased 192,000 Total direct labor costs 168,300 Depreciation factory machinery 36,200 Small tools expense 8,100 Office supplies 13,400 Machine helpers wages 48,500 Miscellaneous factory expenses 19,600 Presidents salary 125,000 Power - factory 27,100 Factory insurance expense 10,600 Factory supervisors salary 39,500 Sales and advertisement 18,000 Power-office 11,200 Depreciation office equipment 8,500 Materials inventory (Dec. 31) 28,200 Work-in-process inventory (Dec. 31) 34,700 Finished Goods Inventory (Dec. 31) 13,900 The sales for Transcontinental Inc. during this year were $1,050,000 and a total of 4,800 units were completed during the year.
Compute the following for the year:
1. Cost of materials used? _____________
2. Factory overhead? _____________
3. Total manufacturing cost? _____________
4. Cost of goods manufactured? _____________
5. Cost of goods sold? _____________
6. Gross margin? _____________
7. Net Income (Loss)? _____________
8. Unit Cost? _____________
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