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very important asap please! Case 1. Book Problem (3 Marks). The Ohno Company is a manufacturer of laptop computers. Ohlo's monthly manufacturing cost and other
very important asap please! Case 1. Book Problem (3 Marks). The Ohno Company is a manufacturer of laptop computers. Ohlo's monthly manufacturing cost and other expenses data are as follows: Required: The company intends to classify the above costs and expenses into the following categories: 1) Prime costs 2) Conversion costs 3) Factory overhead 4) Period costs Case 2 (3 Marks). Book problem. Incomplete manufacturing costs, expenses and selling data for two different cases are shown below: Required: 1. Indicate the missing amount for each letter 2. Prepare a schedule of cost of goods manufactured 3. Prepare a schedule of cost of goods sold 4. Prepare an income statement (Optional) Case 1 Case 2 Raw materials used Direct labor cost Total Factory overhead Total Manufacturing costs Beginning work in process inventory Ending work in process inventory 9,600 g) 5,000 8,000 8,000 4,000 a) 16,000 1,000 h) b) 3,000 24,500 i) 2,500 1,400 17,000 24,000 c) 3,300 22,000 j) k) Sales revenue Sales discounts Cost of goods manufactured Beginning finished goods inventory Goods available for sale Cost of goods sold Ending finished goods inventory Gross profit 3,400 2,500 7,000 e) Raw materials used Direct labor cost Total Factory overhead Total Manufacturing costs Beginning work in process inventory Ending work in process inventory Sales revenue Sales discounts Cost of goods manufactured Beginning finished goods inventory Goods available for sale Cost of goods sold Ending finished goods inventory Gross profit Operating expenses 9,600 g) 5,000 8,000 8,000 4,000 a) 16,000 1,000 h) b) 3,000 24,500 1) 2,500 1,400 17,000 24,000 c) 3,300 22,000 1) d) k) 3,400 2,500 e) 7,000 2,500 1) Net income f) 5,000
very important asap please!
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