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1) Bravo Manufacturing Company began operations on January 1, 2016.Depreciation for the year amounted to $200,000: 30% relates to sales, 25% relates to administrative facilities, and 45% to the factory.Of the total units produced during FY 2016: 75% were sold in 2016 & 25% were in the finished good inventory. Use this information to determine the dollar amount of the total depreciation that will be in the: (Round dollar values & enter as whole dollars only.)

1. FY 2016 Product Costs

2. FY 2016 Period Costs

3. FY 2016 Cost of Goods Sold

4. FY 2016 Balance Sheet

During FY 2016, Bravo Manufacturing had a beginning finished goods inventory of $250 & ending finished goods inventory of $1,000.Work-in-process decreased by $500 during FY 2016 and factory overhead was $2,000. The total manufacturing costs amounted to $48,000. Use this information to determine the FY 2016 dollar amount of: (Round dollar values & enter as whole dollars only.)

1. Cost of Goods Manufactured

2. Cost of Goods Sold

During FY 2016, Bravo Manufacturing had a beginning finished goods inventory of $250 & ending finished goods inventory of $1,000.Work-in-process decreased by $500 during FY 2016 and factory overhead was $2,000. The total manufacturing costs amounted to $48,000. Use this information to determine the FY 2016 dollar amount of: (Round dollar values & enter as whole dollars only.)

1. Cost of Goods Manufactured

2. Cost of Goods Sold

4/5/2017 Homework #4 ACCT 221 7984 Principles of Accounting II (2172) Question 1 (14 points) Bravo Manufacturing Company began operations on January 1, 2016. Depreciation for the year amounted to $200,000: 30% relates to sales, 25% relates to administrative facilities, and 45% to the factory. Of the total units produced during FY 2016: 75% were sold in 2016 & 25% were in the finished good inventory. Use this information to determine the dollar amount of the total depreciation that will be in the: (Round dollar values & enter as whole dollars only.) 1. FY 2016 Product Costs 2. FY 2016 Period Costs 3. FY 2016 Cost of Goods Sold 4. FY 2016 Balance Sheet Save FIB 2 Question 2 (10 points) During FY 2016, Bravo Manufacturing had a beginning finished goods inventory of $250 & ending finished goods inventory of $1,000. Workinprocess decreased by $500 during FY 2016 and factory overhead was $2,000. The total manufacturing costs amounted to $48,000. Use this information to determine the FY 2016 dollar amount of: (Round dollar values & enter as whole dollars only.) 1. Cost of Goods Manufactured 2. Cost of Goods Sold https://learn.umuc.edu/d2l/le/content/244228/viewContent/9102055/View 1/12 4/5/2017 Homework #4 ACCT 221 7984 Principles of Accounting II (2172) Save FIB 3 Question 3 (4 points) During FY 2016 Bravo Manufacturing had total manufacturing costs are $520,000. Their cost of goods manufactured for the year was $495,000. The January 1, 2017 balance of WorkinProcess Inventory is $60,000. Use this information to determine the dollar amount of the FY 2016 beginning WorkinProcess Inventory. (Round dollar values & enter as whole dollars only.) Save FIB 4 Question 4 (4 points) Bravo Company's January 1, 2016 finished goods inventory was $100,000. The January 1, 2017 finished goods inventory is $80,000. Cost of goods manufactured for the FY 2016 was $260,000. Use this information to determine the dollar amount of the FY 2016 cost of goods sold. (Round dollar values & enter as whole dollars only.) Save FIB 5 Question 5 (4 points) Bravo Manufacturing had a Work in Process balance of $90,000 on January 1, 2016. The https://learn.umuc.edu/d2l/le/content/244228/viewContent/9102055/View 2/12 4/5/2017 Homework #4 ACCT 221 7984 Principles of Accounting II (2172) year end balance of Work in Process was $82,000 and the Cost of Goods Manufactured was $850,000. Use this information to determine the total manufacturing costs incurred during the fiscal year 2016. (Round dollar values & enter as whole dollars only.) Save FIB 6 Question 6 (4 points) Bravo Company manufactures quality gentlemen's clothing. The following selected financial information for the fiscal year 2016 is provided: Item Sales Cost of Goods Manufactured Amount $100,000 75,000 Direct Material Purchased 40,000 Factory Overhead 10,000 Work in Process January 1 Work in Process December 31 Direct Material December 31 30,000 15,000 10,000 Finished Goods Inventory December 31 65,000 Net Income 15,000 Direct Materials used Cost of Goods Sold 30,000 55,000 Use this information to determine the dollar amount of Bravo's Finished Goods Inventory for https://learn.umuc.edu/d2l/le/content/244228/viewContent/9102055/View 3/12 4/5/2017 Homework #4 ACCT 221 7984 Principles of Accounting II (2172) January 1, 2016. (Round dollar values & enter as whole dollars only.) Save FIB 7 Question 7 (4 points) Bravo Company manufactures quality gentlemen's clothing. The following selected financial information for the fiscal year 2016 is provided: Item Sales Cost of Goods Manufactured Direct Material Purchased Factory Overhead Work in Process January 1 Work in Process December 31 Direct Material December 31 Amount $100,000 75,000 40,000 10,000 30,000 15,000 10,000 Finished Goods Inventory December 31 60,000 Net Income 15,000 Direct Materials used Cost of Goods Sold 30,000 65,000 Use this information to determine the dollar amount of Bravo's Gross Profit for the fiscal year 2016. (Round dollar values & enter as whole dollars only.) https://learn.umuc.edu/d2l/le/content/244228/viewContent/9102055/View 4/12 4/5/2017 Homework #4 ACCT 221 7984 Principles of Accounting II (2172) Save FIB 8 Question 8 (4 points) Bravo Company manufactures quality gentlemen's clothing. The following selected financial information for the fiscal year 2016 is provided: Item Sales Cost of Goods Manufactured Direct Material Purchased Factory Overhead Work in Process January 1 Work in Process December 31 Direct Material December 31 Amount $100,000 75,000 40,000 10,000 30,000 15,000 10,000 Finished Goods Inventory 60,000 December 31 Net Income Direct Materials used Cost of Goods Sold 15,000 30,000 65,000 Use this information to determine the dollar amount of Bravo's Operating Expenses for the fiscal year 2016. (Round dollar values & enter as whole dollars only.) https://learn.umuc.edu/d2l/le/content/244228/viewContent/9102055/View 5/12 4/5/2017 Homework #4 ACCT 221 7984 Principles of Accounting II (2172) Save FIB 9 Question 9 (4 points) Bravo Company manufactures quality gentlemen's clothing. The following selected financial information for the fiscal year 2016 is provided: Item Sales Cost of Goods Manufactured Direct Material Purchased Amount $100,000 65,000 40,000 Factory Overhead 10,000 Work in Process January 1 30,000 Work in Process December 31 Direct Material December 31 15,000 10,000 Finished Goods Inventory December 31 60,000 Net Income 15,000 Direct Materials used Cost of Goods Sold 30,000 55,000 Use this information to determine the dollar amount of Bravo's Direct Labor Costs for the fiscal year 2016. (Round dollar values & enter as whole dollars only.) https://learn.umuc.edu/d2l/le/content/244228/viewContent/9102055/View 6/12 4/5/2017 Homework #4 ACCT 221 7984 Principles of Accounting II (2172) Save FIB 10 Question 10 (4 points) Bravo Company manufactures quality gentlemen's clothing. The following selected financial information for the fiscal year 2016 is provided: Item Sales Cost of Goods Manufactured Direct Material Purchased Factory Overhead Work in Process January 1 Work in Process December 31 Direct Material December 31 Amount $100,000 75,000 35,000 10,000 30,000 15,000 10,000 Finished Goods Inventory 60,000 December 31 Net Income Direct Materials used Cost of Goods Sold 15,000 30,000 55,000 Use this information to determine the dollar amount of Bravo's Direct Material Inventory for January 1, 2016. (Round dollar values & enter as whole dollars only.) https://learn.umuc.edu/d2l/le/content/244228/viewContent/9102055/View 7/12 4/5/2017 Homework #4 ACCT 221 7984 Principles of Accounting II (2172) Save FIB 11 Question 11 (4 points) Alpha Company publishes & sells a calendar for $6.50 each. The variable cost per calendar is $3.00 with the current annual sales volume of 200,000 calendars. This volume is currently Alpha's breaking even point. Use this information to determine the dollar amount of Alpha's fixed costs. (Round any total dollar value to the nearest whole dollar & enter as whole dollars only. Round any unit dollar value to the nearest penny & enter with both dollar(s) & cents. Round any unit nondollar decimal numbers to the next higher whole number and enter as a whole number.) Save FIB 12 Question 12 (4 points) Bravo Company sells Widgets at $6 a unit. In FY 2016, fixed costs are expected to be $200,000 and variable costs are estimated to increase from $3 per unit to $4 a unit. Bravo wants to have a FY 2016 operating income of $40,000. Use this information to determine the number of units of Widgets that Bravo must sell in FY 2016 to meet this goal. (Round any total dollar value to the nearest whole dollar & enter as whole dollars only. Round any unit dollar value to the nearest penny & enter with both dollar(s) & cents. Round any unit non dollar decimal numbers to the next higher whole number and enter as a whole number.) https://learn.umuc.edu/d2l/le/content/244228/viewContent/9102055/View 8/12 4/5/2017 Homework #4 ACCT 221 7984 Principles of Accounting II (2172) Save FIB 13 Question 13 (10 points) During FY 2016, Bravo Company plans to sell Widgets for $5.50 a unit. Current variable costs are $3.00 a unit and fixed costs are expected to increase to a total of $150,000. Use this information to determine: 1. the number of units of Widgets for Bravo to breakeven 2. the total dollar value of sales that Bravo must achieve in FY 2016 to breakeven (Round any total dollar value to the nearest whole dollar & enter as whole dollars only. Round any unit dollar value to the nearest penny & enter with both dollar(s) & cents. Round any unit nondollar decimal numbers to the next higher whole number and enter as a whole number.) Save FIB 14 Question 14 (4 points) Bravo Air Conditioning & Heating Company performs air conditioner repair service. During July, its busiest month, Bravo had repair labor hours of 60,000 and total costs of $840,000. During November, its slowest month, Bravo had labor hours of 15,000 and total costs or $480,000. Bravo planned for 42,000 labor hours in August. Use this information to determine how many dollars Bravo should be budgeted for total costs in August. (Round any total dollar value https://learn.umuc.edu/d2l/le/content/244228/viewContent/9102055/View 9/12 4/5/2017 Homework #4 ACCT 221 7984 Principles of Accounting II (2172) to the nearest whole dollar & enter as whole dollars only. Round any unit dollar value to the nearest penny & enter with both dollar(s) & cents. Round any unit nondollar decimal numbers to the next higher whole number and enter as a whole number.) Save FIB 15 Question 15 (10 points) For FY 2016 Bravo Company's CVP format Income Statement is as follows: Bravo Company Income Statement (CVP format) For the Year Ended 12/31/16 Sales (100 units) $10,000 Variable Costs: Direct Labor $1,500 1,400 1,000 600 500 5,000 $5,000 Direct Materials Factory Overhead (variable) Selling Expenses (variable) Administrative Expenses (variable) Total Variable Expenses Contribution Margin Fixed Costs: https://learn.umuc.edu/d2l/le/content/244228/viewContent/9102055/View 10/12 4/5/2017 Homework #4 ACCT 221 7984 Principles of Accounting II (2172) Factory $500 1,000 1,000 2,500 $2,500 Overhead (fixed) Selling Expenses (fixed) Administrative Expenses (fixed) Total Fixed Expenses Net Income (aka Operating Income) Bravo utilizes a JIT production system and there are no Raw Materials, Workin Process of Finished Goods inventories. Bravo Company expects that all costs will remain the same for FY 2017 with the exception of fixed factory overhead which is budgeted to increase by $1,700. Use this information to determine: 1. FY 2016 Cost of Goods Sold 2. FY 2016 breakeven point in units (Round any total dollar value to the nearest whole dollar & enter as whole dollars only. Round any unit dollar value to the nearest penny & enter with both dollar(s) & cents. Round any unit nondollar decimal numbers to the next higher whole number and enter as a whole number.) Save FIB 16 Question 16 (12 points) During FY 2016, Bravo Company sold 16,000 units for $84,000. Bravo had $2.75 variable costs per unit sold. Bravo also reported $28,000 of fixed costs. Use this information to determine FY 2016: 1. Contribution Margin per unit https://learn.umuc.edu/d2l/le/content/244228/viewContent/9102055/View 11/12 4/5/2017 Homework #4 ACCT 221 7984 Principles of Accounting II (2172) 2. Breakeven in Units 3. Breakeven in Total Sales (Round any total dollar value to the nearest whole dollar & enter as whole dollars only. Round any unit dollar value to the nearest penny & enter with both dollar(s) & cents. Round any unit nondollar decimal numbers to the next higher whole number and enter as a whole number.) https://learn.umuc.edu/d2l/le/content/244228/viewContent/9102055/View 12/12