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please answer 1 D and 2 B Maryville Inc. incurred the following costs during August: Raw materials used Direct labor Manufacturing overhead, actual Selling expenses
please answer 1 D and 2 B
Maryville Inc. incurred the following costs during August: Raw materials used Direct labor Manufacturing overhead, actual Selling expenses Administrative expenses Interest expense $ 33, 100 65,200 44,800 26,700 19,400 9,100 During the month, 5,300 units of product were manufactured and 4,800 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 $244.800 and the company's effective income tax rate was 30%, Complete this question by entering your answers in the tabs below. Req A and B Reqc Reg D Prepare a traditional (absorption) income statement for Maryville for the month of August. Assume that sales for the month were $244,800 and the company's effective Income tax rate was 30% MARYVILLE INC Absorption Income Statement For the month of August $ 0 0 $ 0 $ 0 The following table summarizes the beginning and ending Inventories of Decatur Manufacturing Inc for the month of October Raw materials Work in proces Finished goods Sept.30 Oct.31 $33,500 $27,600 71,300 64,800 47,200 41,900 Raw materials purchased during the month of October totaled $123,900. Direct labor costs incurred totaled $312,200 for the month Actual and applied manufacturing overhead costs for October totaled $188,400 and $192, 300, respectively. Over/Underapplied overhead is written off to cost of goods sold at the end of the year in December Required: a. Calculate the cost of goods manufactured for October b. Calculate the cost of goods sold for October Step by Step Solution
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