Question 5 options:

Entry Rules:

Round your answer to the nearest whole number.

Examples:

If your answer is $24,500.47, enter 24500

If your answer is $24,500.51, enter 24501

If your answer is $24,500.00, enter 24500

Never enter $ or , when inputting numerical answers

QUESTION:

David Inc. has the following information for the current year:

Opening inventory (units)	1,100
Production (units)	13,500
Ending inventory (units)	1,500
Sales price (per unit)	$170.00

The company's accounting records provide the following information for the year:

Description	Amount ($)
Indirect materials	$84,600
Assembly line supervisor's salary	$69,000
Depreciation (head office)	$158,100
Customer service dept.. Costs	$98,000
Direct Labour	$256,100
Indirect labour	$104,700
Distribution costs	$113,600
Raw material purchases	$410,300
Product quality inspector	$55,700
Factory utilities	$53,400
Depreciation (factory)	$204,900
Salary, sales manager	$75,700
Opening Finished Goods Inventory	$15,700
Closing Finished Goods Inventory	$21,000
Opening WIP Inventory	$4,500
Closing WIP Inventory	$8,700
Opening raw materials inventory	$9,500
Closing raw materials inventory	$7,800

Using the above information, develop a Schedule of Cost of Goods Manufactured, Schedule of Cost of Goods Sold, and an Income Statement. Use the information to answer the following questions.

What is the total Direct Materials Used from the Schedule of Cost of Goods Manufactured?

What is the total Direct Labour from the Schedule of Cost of Goods Manufactured?

What is the total Manufacturing Overhead costs from the Schedule of Cost of Goods Manufactured?

What is the total Cost of Goods Manufactured from the Schedule of Cost of Goods Manufactured?

What is the total Cost of Goods Sold from the Cost of Goods Sold Statement?

What is the total Operating Income, also called Income before Income Taxes, from the Income Statement?