Question
need answer to A and E1 only sky Tracker Corporation manufactures a telecommunications device. During its first year of operations, the company started and completed
need answer to A and E1 only
sky Tracker Corporation manufactures a telecommunications device. During its first year of operations, the company started and completed 50 devices at a cost of $60,000 per unit. Of these, 48 were sold for $100,000 each and two remain in finished goods inventory. In addition, the company had six partially completed units in its factory at year-end. Total costs for the year (summarized alphabetically) were as follows. Direct materials used $ 743,000 Direct labor 906,000 Income tax expense 100,000 General and administrative expenses 500,000 Manufacturing overhead 1,780,000 Selling expenses 500,000 Required: a. Compute the total manufacturing costs charged to work in process for the current year. b. Compute the cost of finished goods manufactured for the current year. c. Compute the cost of goods sold for the current year. d. Compute the gross profit on sales and net income for the current year. e. Compute the dollar value of ending inventories of (1) work in process
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