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Required 1.Direction materials stock, Total cost , 31 Dec 2000 2. Finished goods stock,total units , 31 Dec 2000 3. Selling price per unit 2000
Required 1.Direction materials stock, Total cost , 31 Dec 2000
2. Finished goods stock,total units , 31 Dec 2000
3. Selling price per unit 2000
4. Operating profit 2000
\fQ.3 (20) Soo Office Equipment manufactures a nd sells metal shelving. It began operations on January 1, 2009. Costs incurred for 2009 are as follows (V stands for variable; F stands for fixed): Direct materials used costs Direct manufacturing labour costs Plant energy costs Indirect manufacturing labour costs Indirect manufacturing labour costs Other indirect manufacturing costs Other indirect manufacturing costs Marketing, distribution, and customer-service costs Marketing, distribution, and customer-service costs Administrative costs $140,000 V 30,000 V 5,000 V 10,000 V 16,000 F 8,000 V 24,000 F 122,850 V 40,000 F 50,000 F Inventory data are as follows: Beginning January 1, 2009 Ending, December 31, 2009 Direct materials Work in process Finished goods 0 kilograms 0 units 0 units 0 kilograms 0 units ? units Production in 2009: 100,000 units. Sales in 2009: 98,000 units. Required 1. Calculate finished goods inventory, total costs, December 31, 2009. 2. What would total manufacturing costs incurred and cost of goods manufactured be in 2010 if production was 110,000 units? Assume no beginning or ending WIP inventories. 2009 (100,000 units) Per unit or Fixed 2010 110,000 units Direct materials used costs $140,000 $1.40 Direct manufacturing labour costs 30,000 .30 VMOH Plant energy costs 5,000 .05 Indirect manufacturing labour costs 10,000 .10 Other indirect manufacturing costs 8,000 .08 FMOH Indirect manufacturing labour costs 16,000 16,000 Other indirect manufacturing costs 24,000 24,000 Manufacturing Costs Incurred 233,000* WIP(BB) 0 0 WIP(EB) 0 0 COGM $233,000* (8) $154,000 33,000 5,500 11,000 8,800 16,000 24,000 $252,300*** $252,300 (8) FG(BB) 0 FG(EB) $4,760** (4) Cost per unit = $233,000/100,000 = $2.33 FG(EB) Units = 100,000 - 98,000 = 2,000 FG(EB) $s = 2,000 * $2.33 = $4,660 *** Or VC = 140,000 + 30,000 + 5,000 + 10,000 + 8,000 = 193,000, or $1.93 per unit Cost in 2010 = 110,000*$1.93 + 40,000 = 252,300 https://www.coursehero.com/file/7247228/ADM2341MidtermW2010-Solution/?justUnlocked=1Step by Step Solution
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