Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please complete Cost of Goods Sold Budget (9.07-9.14) at the bottom of these pics. I provided all the previous information needed to complete that

Please complete " Cost of Goods Sold Budget" (9.07-9.14) at the bottom of these pics. I provided all the previous information needed to complete that part below image text in transcribedimage text in transcribed

image text in transcribed

l See The Light Projected Balance Sheet As of December 31, 20x1 Current Assets Cash Accounts Receivable Inventory $34,710.00 67,500.00 Raw Material 500$16.00 Lamp Kits Work in Process Finished Goods 8,000.00 3000 $30.00 90,000.00 $ 200,210.00 Total Current Assets Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets $ 20,000.00 6,800.00 13,200.00 $ 213,410.00 Total Assets Current Liabilities $54,000.00 $54,000.00 Accounts Payable Total Liabilities Stockholder's Equity $ 12,000.00 147,410.00 Common Stock Retained Eamings Total Stockholder's Equity Total Liabilities and Stockholder's Equity 159,410.00 $ 213,410.00 Overhead Allocation rate based on: 1. Number of Units Total Factory Overhead/Number of Units (Round to two places, $##,##) 10.39333333 $10.399.01j of making one unit next year Cost of one Lamp Kit Labor Cost Per Lamp Factory overhead per unit 16.88 2.079.02) 10.39 Total cost of one unit (Round to two places, $##,##) 29.349.03; Fixed Selling Variable Seling (Round to two places, $##,##) Fixed Administrative Variable Administrative (Round to two places, $##,##) Total Selling and Administrative (Round to two places, $##,##) 103,950.0019.04) 52000 70,290.009.05 253,240.009.0 Goods 7 Sold Round dollars to two aces, $##,## Budget 9.07 Beginning Inventory, Finished Goods Production Costs: Materials: Lamp Kits: Beginning Inventory Purchased Available for Use Ending Inventory of Lamp Kits Lamp Kits Used In Production 9.08 9.09 9.101 9.11 9.12) 9.13 9.14) Total Materials: Labor Overhead Cost of Goods Available Less: Ending Inventory, Finished Goods Cost of Goods Sold l See The Light Projected Balance Sheet As of December 31, 20x1 Current Assets Cash Accounts Receivable Inventory $34,710.00 67,500.00 Raw Material 500$16.00 Lamp Kits Work in Process Finished Goods 8,000.00 3000 $30.00 90,000.00 $ 200,210.00 Total Current Assets Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets $ 20,000.00 6,800.00 13,200.00 $ 213,410.00 Total Assets Current Liabilities $54,000.00 $54,000.00 Accounts Payable Total Liabilities Stockholder's Equity $ 12,000.00 147,410.00 Common Stock Retained Eamings Total Stockholder's Equity Total Liabilities and Stockholder's Equity 159,410.00 $ 213,410.00 Overhead Allocation rate based on: 1. Number of Units Total Factory Overhead/Number of Units (Round to two places, $##,##) 10.39333333 $10.399.01j of making one unit next year Cost of one Lamp Kit Labor Cost Per Lamp Factory overhead per unit 16.88 2.079.02) 10.39 Total cost of one unit (Round to two places, $##,##) 29.349.03; Fixed Selling Variable Seling (Round to two places, $##,##) Fixed Administrative Variable Administrative (Round to two places, $##,##) Total Selling and Administrative (Round to two places, $##,##) 103,950.0019.04) 52000 70,290.009.05 253,240.009.0 Goods 7 Sold Round dollars to two aces, $##,## Budget 9.07 Beginning Inventory, Finished Goods Production Costs: Materials: Lamp Kits: Beginning Inventory Purchased Available for Use Ending Inventory of Lamp Kits Lamp Kits Used In Production 9.08 9.09 9.101 9.11 9.12) 9.13 9.14) Total Materials: Labor Overhead Cost of Goods Available Less: Ending Inventory, Finished Goods Cost of Goods Sold

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Information System Audit How To Control The Digital Disruption

Authors: Philippe Peret

1st Edition

1032136162, 978-1032136165

More Books

Students also viewed these Accounting questions

Question

How do you verify and validate the Operations Domain Solution?

Answered: 1 week ago

Question

Identify and describe each of the major HRD functions

Answered: 1 week ago

Question

Cite some of the contemporary challenges facing HRD professionals

Answered: 1 week ago