Use the following information to perform the calculations below. Materials Inventory, Jan 1, 2022 33,650 Materials Inventory,
Question:
Use the following information to perform the calculations below.
Materials Inventory, Jan 1, 2022 33,650
Materials Inventory, Dec 31, 2022 28,600
Work in process, Jan 1, 2022 40,400
Work in process, Dec 31, 2022 81,600
Finished goods, Jan 1, 2022 29,400
Finished goods, Dec 31, 2022 107,020
Sales $343,921
Office Copier depreciation 74,600
Indirect materials 98,800
Direct labor 56,800
Advertising expense 34,900
Materials purchased 57,100
Fire Insurance, Factory Building 31,000
Show your work for each part.
- Calculate total manufacturing costs for 2022. (4 Points)
- Calculate cost of goods manufactured for 2022. (4 Points)
- Calculate cost of goods sold for 2022. (4 Points)
5. a. Your company used job order costing and had the following information
for the month of August. Place an "x" next to any items below which must be included when calculating your product unit cost. (4 Points)
________ | fire insurance, factory, $40,000; |
________ | mortgage payments, office building, $170,900; |
indirect labor, manufacturing, $88,500; | |
manager's salary, factory, $215,700; _____ | |
sales commissions, $82,650; | |
depreciation, factory machinery, $22,900; | |
utilities, office, $53,300; | |
advertising expenses, $81,000;______ | |
direct labor, $282,460. | |
rent, factory building, $125,000; _____ |
b. The Inspection Department reported that 94,000 good units were produced during August.Calculate your product unit cost below.
Carry answer to two decimals and show your work. (2 Points)
Please help!