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Please use the two graphs above to figure out the finished goods inventory cost per unit graph Product Input Expenses Direct Materials Ending RM Inventory,
Please use the two graphs above to figure out the finished goods inventory cost per unit graph
Product Input Expenses Direct Materials Ending RM Inventory, September 30, 2020 Yards of Wool Required per Sweater Raw Materials Cost per Yard of Wool Ending RM Inventory Requirement 8265.60 yards 4 yards per sweater 4.00 per yard 7% of next months sweater production needs Wool Purchases Paid for in the Month of Purchase Wool Purchases Paid for in the Month following the Purchase 85% 15% Direct Labor Number of Workers Required for the Making of Each Sweater Labor Hours Required per Worker per Unit of FG (Sweater) Labor Cost per Hour 2 workers 0.5 hours 15.00 per hour Manufacturing Overhead Variable Manufacturing Overhead Fixed Manufacturing Overhead Noncash Fixed Manufacturing Overhead (included in above) $ $ $ 1.75 per sweater 30,200.00 per month (Oct.) 10,250.00 per month (Oct.) $ $ 30,750.00 per month (Nov. & beyond) 15,750.00 per month (Nov. & beyond) ASSETS Cash Accounts Receivable Raw Materials Inventory Finished Goods Inventory PP&E, net TOTAL ASSETS 14,500.00 Lexie's Wool Sweaters Balance Sheet As of September 30, 2020 LIABILITIES & EQUITIES $ 150,000.00 Accounts Payable $ $ 75,000.00 Notes Payable $ 28,929.60 Interest Payable $ $ 61,125.00 TOTAL LIABILITIES $ $ 487,000.00 Retained Earnings $ $ 802,054.60 TOTAL LIABILITIES & EQUITY $ 14,500.00 787,554.60 802,054.60 B Finished Goods Inventory Cost per Unit Per Unit (Sweater) Direct Material (wool & other materials) Direct Labor Variable Overhead TOTAL FG INVENTORY COST PER UNITStep by Step Solution
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