The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured and sold. The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. Complete this question by entering your answers in the tabs below. Calculate the amount of gross margin on the income statement. During Year 2, Zachary Manufacturing Company incurred $105,600,000 of research and development (R\&D) costs to create a long-life battery to use in computers. In accordance with FASB standards, the entire R\&D cost was recognized as an expense in Year 2. Manufacturing costs (direct materials, direct labor, and overhead) are expected to be $48 per unit. Packaging, shipping, and sales commissions are expected to be $12 per unit. Zachary expects to sell 2,400,000 batteries before new research renders the battery design technologically obsolete. During Year 2, Zachary made 435,000 batteries and sold 393,000 of them. Required a. Identify the upstream and downstream costs. b. Determine the Year 2 amount of cost of goods sold and the ending inventory balance that would appear on the financial statements that are prepared in accordance with GAAP. c. Determine the sales price assuming that Zachary desires to earn a profit margin that is equal to 25 percent of the total cost of developing, making, and distributing the batteries. d. Prepare a GAAP-based income statement for Year 2. Use the sales price developed in Requirement c. Complete this question by entering your answers in the tabs below. Identify the upstream and downstream costs. During Year 2, Zachary Manufacturing Company incurred $105,600,000 of research and development (R\&D) costs to create a long-life battery to use in computers. In accordance with FASB standards, the entire R\&D cost was recognized as an expense in Year 2 . Manufacturing costs (direct materials, direct labor, and overhead) are expected to be $48 per unit. Packaging, shipping, and sales commissions are expected to be $12 per unit. Zachary expects to sell 2,400,000 batteries before new research renders the battery design technologically obsolete. During Year 2, Zachary made 435,000 batteries and sold 393,000 of them. Required a. Identify the upstream and downstream costs. b. Determine the Year 2 amount of cost of goods sold and the ending inventory balance that would appear on the financial statements that are prepared in accordance with GAAP. c. Determine the sales price assuming that Zachary desires to earn a profit margin that is equal to 25 percent of the total cost of developing, making, and distributing the batteries. d. Prepare a GAAP-based income statement for Year 2. Use the sales price developed in Requirement c. Complete this question by entering your answers in the tabs below. Determine the Year 2 amount of cost of goods sold and the ending inventory balance that would appear on the financial statements that are prepared in accordance with GAAP. During Year 2, Zachary Manufacturing Company incurred $105,600,000 of research and development (R\&D) costs to create a long-life battery to use in computers. In accordance with FASB standards, the entire R\&D cost was recognized as an expense in Year 2. Manufacturing costs (direct materials, direct labor, and overhead) are expected to be $48 per unit. Packaging, shipping, and sales commissions are expected to be $12 per unit. Zachary expects to sell 2,400,000 batteries before new research renders the battery design technologically obsolete. During Year 2, Zachary made 435,000 batteries and sold 393,000 of them. Required a. Identify the upstream and downstream costs. b. Determine the Year 2 amount of cost of goods sold and the ending inventory balance that would appear on the financial statements that are prepared in accordance with GAAP. c. Determine the sales price assuming that Zachary desires to earn a profit margin that is equal to 25 percent of the total cost of developing, making, and distributing the batteries. d. Prepare a GAAP-based income statement for Year 2. Use the sales price developed in Requirement c. Complete this question by entering your answers in the tabs below. Determine the sales price assuming that Zachary desires to earn a profit margin that is equal to 25 percent of the total cost of developing, making, and distributing the batteries. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) During Year 2, Zachary Manufacturing Company incurred $105,600,000 of research and development (R\&D) costs to create a long-life battery to use in computers. In accordance with FASB standards, the entire R\&D cost was recognized as an expense in Year 2. Manufacturing costs (direct materials, direct labor, and overhead) are expected to be $48 per unit. Packaging, shipping, and sales commissions are expected to be $12 per unit. Zachary expects to sell 2,400,000 batteries before new research renders the battery design technologically obsolete. During Year 2, Zachary made 435,000 batteries and sold 393,000 of them. Required a. Identify the upstream and downstream costs. b. Determine the Year 2 amount of cost of goods sold and the ending inventory balance that would appear on the financial statements that are prepared in accordance with GAAP. c. Determine the sales price assuming that Zachary desires to earn a profit margin that is equal to 25 percent of the total cost of developing, making, and distributing the batteries. d. Prepare a GAAP-based income statement for Year 2. Use the sales price developed in Requirement c. Complete this question by entering your answers in the tabs below. Prepare a GAAP-based income statement for Year 2. Use the sales price developed in Requirement c. (Do not round intermediate calculations.) Becky Shelton, a teacher at Kemp Middle School, is in charge of ordering the T-shirts to be sold for the school's annual fund-raising project. The T-shirts are printed with a special Kemp School logo. In some years, the supply of T-shirts has been insufficient to satisfy the number of sales orders. In other years, T-shirts have been left over. Excess T-shirts are normally donated to some charitable organization. T-shirts cost the school $7 each and are normally sold for $15 each. Ms. Shelton has decided to order 710 shirts. Required a. If the school receives actual sales orders for 660 shirts, what amount of profit will the school earn? What is the cost of waste due to excess inventory? b. If the school receives actual sales orders for 745 shirts, what amount of profit will the school earn? What amount of opportunity cost will the school incur? The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured and sold. The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. Complete this question by entering your answers in the tabs below. Calculate the amount of gross margin on the income statement. During Year 2, Zachary Manufacturing Company incurred $105,600,000 of research and development (R\&D) costs to create a long-life battery to use in computers. In accordance with FASB standards, the entire R\&D cost was recognized as an expense in Year 2. Manufacturing costs (direct materials, direct labor, and overhead) are expected to be $48 per unit. Packaging, shipping, and sales commissions are expected to be $12 per unit. Zachary expects to sell 2,400,000 batteries before new research renders the battery design technologically obsolete. During Year 2, Zachary made 435,000 batteries and sold 393,000 of them. Required a. Identify the upstream and downstream costs. b. Determine the Year 2 amount of cost of goods sold and the ending inventory balance that would appear on the financial statements that are prepared in accordance with GAAP. c. Determine the sales price assuming that Zachary desires to earn a profit margin that is equal to 25 percent of the total cost of developing, making, and distributing the batteries. d. Prepare a GAAP-based income statement for Year 2. Use the sales price developed in Requirement c. Complete this question by entering your answers in the tabs below. Identify the upstream and downstream costs. During Year 2, Zachary Manufacturing Company incurred $105,600,000 of research and development (R\&D) costs to create a long-life battery to use in computers. In accordance with FASB standards, the entire R\&D cost was recognized as an expense in Year 2 . Manufacturing costs (direct materials, direct labor, and overhead) are expected to be $48 per unit. Packaging, shipping, and sales commissions are expected to be $12 per unit. Zachary expects to sell 2,400,000 batteries before new research renders the battery design technologically obsolete. During Year 2, Zachary made 435,000 batteries and sold 393,000 of them. Required a. Identify the upstream and downstream costs. b. Determine the Year 2 amount of cost of goods sold and the ending inventory balance that would appear on the financial statements that are prepared in accordance with GAAP. c. Determine the sales price assuming that Zachary desires to earn a profit margin that is equal to 25 percent of the total cost of developing, making, and distributing the batteries. d. Prepare a GAAP-based income statement for Year 2. Use the sales price developed in Requirement c. Complete this question by entering your answers in the tabs below. Determine the Year 2 amount of cost of goods sold and the ending inventory balance that would appear on the financial statements that are prepared in accordance with GAAP. During Year 2, Zachary Manufacturing Company incurred $105,600,000 of research and development (R\&D) costs to create a long-life battery to use in computers. In accordance with FASB standards, the entire R\&D cost was recognized as an expense in Year 2. Manufacturing costs (direct materials, direct labor, and overhead) are expected to be $48 per unit. Packaging, shipping, and sales commissions are expected to be $12 per unit. Zachary expects to sell 2,400,000 batteries before new research renders the battery design technologically obsolete. During Year 2, Zachary made 435,000 batteries and sold 393,000 of them. Required a. Identify the upstream and downstream costs. b. Determine the Year 2 amount of cost of goods sold and the ending inventory balance that would appear on the financial statements that are prepared in accordance with GAAP. c. Determine the sales price assuming that Zachary desires to earn a profit margin that is equal to 25 percent of the total cost of developing, making, and distributing the batteries. d. Prepare a GAAP-based income statement for Year 2. Use the sales price developed in Requirement c. Complete this question by entering your answers in the tabs below. Determine the sales price assuming that Zachary desires to earn a profit margin that is equal to 25 percent of the total cost of developing, making, and distributing the batteries. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) During Year 2, Zachary Manufacturing Company incurred $105,600,000 of research and development (R\&D) costs to create a long-life battery to use in computers. In accordance with FASB standards, the entire R\&D cost was recognized as an expense in Year 2. Manufacturing costs (direct materials, direct labor, and overhead) are expected to be $48 per unit. Packaging, shipping, and sales commissions are expected to be $12 per unit. Zachary expects to sell 2,400,000 batteries before new research renders the battery design technologically obsolete. During Year 2, Zachary made 435,000 batteries and sold 393,000 of them. Required a. Identify the upstream and downstream costs. b. Determine the Year 2 amount of cost of goods sold and the ending inventory balance that would appear on the financial statements that are prepared in accordance with GAAP. c. Determine the sales price assuming that Zachary desires to earn a profit margin that is equal to 25 percent of the total cost of developing, making, and distributing the batteries. d. Prepare a GAAP-based income statement for Year 2. Use the sales price developed in Requirement c. Complete this question by entering your answers in the tabs below. Prepare a GAAP-based income statement for Year 2. Use the sales price developed in Requirement c. (Do not round intermediate calculations.) Becky Shelton, a teacher at Kemp Middle School, is in charge of ordering the T-shirts to be sold for the school's annual fund-raising project. The T-shirts are printed with a special Kemp School logo. In some years, the supply of T-shirts has been insufficient to satisfy the number of sales orders. In other years, T-shirts have been left over. Excess T-shirts are normally donated to some charitable organization. T-shirts cost the school $7 each and are normally sold for $15 each. Ms. Shelton has decided to order 710 shirts. Required a. If the school receives actual sales orders for 660 shirts, what amount of profit will the school earn? What is the cost of waste due to excess inventory? b. If the school receives actual sales orders for 745 shirts, what amount of profit will the school earn? What amount of opportunity cost will the school incur