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Stuart Manufacturing Company was started on January 1 , Year 1 , when it acquired $ 8 0 , 0 0 0 cash by issuing
Stuart Manufacturing Company was started on January Year when it acquired $ cash by issuing common stock. Stuarttablea Total product cost,,a Average cost per unit,$b Cost of good sold,$c Ending inventory,$d Net income,$e Retained earnings,$f Total assets,vdots,vdots
immediately purchased office furniture and manufacturing equipment costing $ and $ respectively. The office furniture
had an eightyear useful life and a zero salvage value. The manufacturing equipment had a $ salvage value and an expected
useful life of three years. The company paid $ for salaries of administrative personnel and $ for wages to production
personnel. Finally, the company paid $ for raw materials that were used to make inventory. All inventory was started and
completed during the year. Stuart completed production on units of product and sold units at a price of $ each in Year
Assume that all transactions are cash transactions and that product costs are computed in accordance with GAAP.
Required
a Determine the total product cost and the average cost per unit of the inventory produced in Year
Note: Round "Average cost per unit" to decimal places.
b Determine the amount of cost of goods sold that would appear on the Year income statement.
Note: Do not round intermediate calculations.
c Determine the amount of the ending inventory balance that would appear on the December Year balance sheet.
Note: Do not round intermediate calculations.
d Determine the amount of net income that would appear on the Year income statement.
Note: Do not round intermediate calculations.
e Determine the amount of retained earnings that would appear on the December Year balance sheet.
Note: Do not round intermediate calculations.
f Determine the amount of total assets that would appear on the December Year balance sheet.
Note: Do not round intermediate calculations.tablea Total product cost,,a Average cost per unit,$b Cost of good sold,$c Ending inventory,,d Net income,,e Retained earnings,,f Total assets,,
The answers there are right so far just wondering for A and F Thanks
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