The following information were obtained from the records of Sunshine Enterprise for the current year ended December 31 Cash 19800 Accounts Receivable 44000 Raw Materials Inventory Jan 1 70000 Raw Materials Inventory Dec 31 80000 Work in Process Jan 1 15000 Work in Process Dec 31 42000 Finished Goods Jan 1 109900 Finished Goods Dec 31 155000 Indirect Labor 50000 Direct Labor 142500 Factory supplies used 30000 Freight in 9000 Advertising Expense 16000 Sales Salaries 25000 Administrative Salaries 41000 Bad Debt Expense 5000 Allowance for Bad Debts 3100 Direct Material Purchases 137500 Sales 471000 The costs below are common costs incurred by various facilities to be allocated as follows Total Costs Factory Sales Administrative Utilities 25000 60 10 30 Taxes 35000 60 25 15 Insurance 10000 60 20 20 Depreciation 30000 60 20 20 Required Compute for the Total Manufacturing Cost, Cost of Goods Manufactured and Cost of Goods Sold (3 point), Compute for the Net income after Tax (if applicable) (SHOW SOLUTION)

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Posted on Aug 26, 2024

The following information were obtained from the records of Sunshine Enterprise for the current year ended December 31: Cash 19800 Accounts Receivable 44000 Raw Materials

The following information were obtained from the records of Sunshine Enterprise for the current year ended December 31:

Cash	19800
Accounts Receivable	44000
Raw Materials Inventory Jan 1	70000
Raw Materials Inventory Dec 31	80000
Work in Process Jan 1	15000
Work in Process Dec 31	42000
Finished Goods Jan 1	109900
Finished Goods Dec 31	155000
Indirect Labor	50000
Direct Labor	142500
Factory supplies used	30000
Freight in	9000
Advertising Expense	16000
Sales Salaries	25000
Administrative Salaries	41000
Bad Debt Expense	5000
Allowance for Bad Debts	3100
Direct Material Purchases	137500
Sales	471000

The costs below are common costs incurred by various facilities to be allocated as follows:

	Total Costs	Factory	Sales	Administrative
Utilities	25000	60%	10%	30%
Taxes	35000	60%	25%	15%
Insurance	10000	60%	20%	20%
Depreciation	30000	60%	20%	20%

Required: Compute for the Total Manufacturing Cost, Cost of Goods Manufactured and Cost of Goods Sold (3 point), Compute for the Net income after Tax (if applicable) (SHOW SOLUTION)