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payable (12% annually). monthly interest on the $200,000 long-term note Income taxes will be assessed at 30%, and are paid in the quarter incurred. Sales
payable (12% annually). monthly interest on the $200,000 long-term note Income taxes will be assessed at 30%, and are paid in the quarter incurred. Sales Budget Production Direct Muls Budget Direct br Factory OH Selling Exp Budget Admin Exp Cost of Budget Income Budget Budget Budget Goods Sold Statement Requirement Using information from the sales budget and the following information, calculate the budgeted cost of goods sold for Harris Inc. The product's manufacturing cost is $211 per unit, including per unit costs of $84 for materials ( $14 per lb.), $96 for direct labor (4 hours X $24 direct labor rate per hour), $19 for variable overhead, and $12 for fixed al overhead. Annual fixed overhead consists, incurred evenly throughout the year, consist of depreciation on production equipment, $6,400; factory utilities, $7,900, and other factory overhead of $1,588. Show less Harris Inc. Cost of Goods Sold Budget For the year ended December 31, 2018 Second Qtr. First otr. 360 Third Qtr 320 Fourth Qt. 320 Total 1240 Budgeted sales (units) Cost of goods sold Admin Exp Budget Income Statement > to search blue
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