Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 3 this company produce 2000 television as in Aug the tv are sold 300 for each company has 250 finish good inventory at the

Question 3
this company produce 2000 television as in Aug the tv are sold 300 for each company has 250 finish good inventory at the beginning. At the end of the month there were 500 finish inventory the following cost along
Purchase of raw material $ 130,000.00
Beginning inventory $ 30,500.00
ending inventory $ 25,000.00
direct labor $ 75,000.00
indirect labor $ 50,000.00
expenses $ 5,000.00
factory rent $ 15,500.00
machinary $ 25,500.00
factory $ 4,500.00
factory provision $ 50,700.00
sales commision $ 67,500.00
expenses $ 15,000.00
beginning wip inventory $ 4,000.00
ending wip inventory $ 5,500.00
beginning finish good $ 30,000.00
ending finish good $ 42,500.00
(Q3a)- Prepare statement for cost of good manufactured of the month
(Q3b)- Compute the average cost of producing 1 unit of good
(Q3c)- Prepare the statement of profit & loss

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

The Speed Of Risk Lessons Learned On The Audit Trail

Authors: Richard F. Chambers, CIA, QIAL, CGAP, CCSA, CRMA

2nd Edition

ISBN: 163454059X, 978-1634540599

More Books

Students also viewed these Accounting questions

Question

8. Set goals that relate to practice as well as competition.

Answered: 1 week ago