Question: need the answer to question 2-35 only thank you 2-34 Income statement and schedule of cost of goods manufactured. The Howell Corporation has the following

need the answer to question 2-35 only thank you
need the answer to question 2-35 only thank you 2-34 Income statement

2-34 Income statement and schedule of cost of goods manufactured. The Howell Corporation has the following account balances (in millions): For Specific Date Direct materials inventory, Jan. 1, 2011 Work-in-process inventory, Jan. 1, 2011 Finished goods inventory, Jan. 1, 2011 Direct materials inventory, Dec. 31, 2011 Work-in-process inventory, Dec. 31, 2011 Finished goods inventory, Dec. 31, 2011 For Year 2011 $15 Purchases of direct materials 10 Direct manufacturing labor 70 Depreciation-plant and equipment 20 Plant supervisory salaries 5 Miscellaneous plant overhead 55 Revenues Marketing, distribution, and customer-service costs Plant supplies used Plant utilities Indirect manufacturing labor $325 100 80 5 35 950 240 10 30 60 a Required Prepare an income statement and a supporting schedule of cost of goods manufactured for the year ended December 31, 2011. (For additional questions regarding these facts, see the next problem.) 2-35 Interpretation of statements (continuation of 2-34). Required 1. How would the answer to Problem 2-34 be modified if you were asked for a schedule of cost of goods manufactured and sold instead of a schedule of cost of goods manufactured? Be specific 2. Would the sales manager's salary included in marketing, distribution, and customer-service costs) be accounted for any differently if the Howell Corporation were a merchandising-sector company instead of a manufacturing-sector company? Using the flow of manufacturing costs outlined in Exhibit 2-9 (p. 42), describe how the wages of an assembler in the plant would be accounted for in this manufac- turing company 3. Plant supervisory salaries are usually regarded as manufacturing overhead costs. When might some of these costs be regarded as direct manufacturing costs? Give an example, 4. Suppose that both the direct materials used and the plant and equipment depreciation are related to the manufacture of 1 million units of product. What is the unit cost for the direct materials assigned to those units? What is the unit cost for plant and equipment depreciation? Assume that yearly plant and equipment depreciation is computed on a straight-line basis. 5. Assume that the implied cost-behavior patterns in requirement 4 persist. That is, direct material costs behave as a variable cost, and plant and equipment depreciation behaves as a fixed cost. Repeat the

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