technology assess prices inc. is a designer, manufacturer and distributor

Wihg headings Supporting calculations Job No. May 1 Work in Direct Direct Factory Total Unit Quantity Process Materials Labor Overhead Cost Cost 2. Determine the May 31 balances for each of the inventory accounts and factory Goods Sold Units Cost of Sold PR 16-5B Flow of costs and income statement Technology Accessories Inc. is a design A 1. Income from $656,000 ations, Obj. 2 er, manufacturer, and distributor of accessories for consumer electronic products. Early in 20Y3, the company began production of a leather cover for tablet computers, called the iLeather. The cover is made of stitched leather with a velvet interior and fits snugly around most tablet computers. In January, $750,000 was spent on developing market ing and advertising materials. For the first six months of 20Y3, the company spent an additional KCEL TEMPLATE $1,400,000 promoting the iLeather. The product was read Technology Accessories Inc. uses a job order cost system to accumulate Direct materials unit costs for the iLeather are as follows: y for manufacture on January 21, 20Y3. costs for the ileather. Leather Velvet Packaging Total $10.00 5.00 0.40 $15.40 The actual production process for the iLeather is fairly straightforward. First, leather is brought to a cutting and stitching machine. The machine cuts the leather and stitches an exte- rior edge into the product. The machine requires one hour per 125 ileathers. After the ileather is cut and stitched, it is brought to assembly, where assembly personnel affix the velvet interior and pack the ileather for shipping. The direct labor cost for this work is $0.50 per unit. Continued) For Externa CONTENTS One pad sars with 70% lsopropyl Alcohol