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The following data from the just completed year are taken from the accounting records of Fatimah Company Number of units sold (units) Selling Price
The following data from the just completed year are taken from the accounting records of Fatimah Company Number of units sold (units) Selling Price (S/unit) (in dollars): 20.000 45 5 Variable selling expense per unit (S/unit) Total fixed selling expense (S) Variable administrative expense per unit (S/unit) Total fixed administrative expense (S) Direct labor cost (S) Manufacturing overhead applied to work in process (S) Actual manufacturing overhead cost(S) Indirect materials (S) Purchases of materials during period (S) 30,000 3 43,000 66,000 Calculate in sheet "Overhead applied" 290,000 28.000 140,000 Balances of Inventory accounts: Account Beginning balance Ending Balance ($) Raw Materials 5.000 9.000 Work in process 15.000 4,000 Finished goods 9,000 2,000 Instructions. Please prepare the following reports in the assigned tabs of the excel file: Sheet 1. Calculate POHR, overhead applied and under- or overapplied overhead Sheet 2. Prepare a schedule of cost of goods manufactured. Sheet 3. Prepare a schedule of cost of goods sold; Sheet 4. Prepare a traditional format income statement; Sheet 5. Prepare a contribution format income statement.
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