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solong [7]
3 years ago
7

Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials inventory, March 1 6,000 Mater

ials inventory, March 31 8,000 Direct labor 25,000 Factory overhead 37,000 Work in process inventory, March 1 22,000 Work in process inventory, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Selling and administrative expenses 79,000
Prepare a schedule of cost of goods manufactured. Enter all amounts as positive numbers. Zoe Corporation Statement of Cost of Goods Manufactured For the Month Ended March 31
Business
1 answer:
Fed [463]3 years ago
7 0

Answer:

Explanation:

The preparation of the cost of goods manufactured is presented below:

Zoe Corporation

Statement of Cost of Goods Manufactured

For Month Ended March 31, 20XX

Work in process inventory March 1   $22,000

Direct materials :    

Materials inventory, March 1  $6,000  

Add: Purchases       $92,000  

Cost of materials for use $98,000  

Less - materials inventory, March 31 -$8,000  

cost of materials placed in production $90,000  

Add:

Direct labor  $25,000  

Factory overhead  $37.000  

Total manufacturing costs added  $152,000

Total manufacturing costs     $174,000

Less- work in process inventory, March 31  $23,500

Cost of goods manufactured   $150,500

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T-comm makes a variety of products. it is organized in two divisions, north and south. the managers for each division are paid,
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Answer:

                                                Total           Per Unit

Materials                                        $155,200            $96

Direct labor                                 $57,600            $48

Other costs varying with output $34,800            $29

<u>Fixed costs                               $540,000          $450   </u>

Total costs                                $747,600          $623

Since South is going to increase its production by 300 more units to be able to sell them to North, that would change the average fixed cost per unit = $540,000 / 1,500 units = $360 per unit.

Therefore the total cost per unit = $96 + $48 + $29 + $360 = $533 (instead of $623).

Since South charges its sales to North a 20% margin, the selling price per unit should = $533 x 120% = $639.60 and the total invoice for the 300 units = $639.60 per unit x 300 units = $191,880

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Stu owns an ice cream parlor that is usually closed during the winter. This winter, however, Stu is considering opening his busi
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Answer:

a) open in February because the $4,000 of total revenue exceeds the $3,500 of variable costs.

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In the short run, when the demand for a product decreases below break even point, a business should remain in operations as long as the total revenues are equal or larger than variable costs.

In this case Stu will only earn $4,000, which is not enough to make a profit, but will cover all the variable costs. If he remains closed during February, he will still have to pay $1,500 in fixed costs.

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Ficus, Inc. began business on March 1, 2018, and elected to file its income tax return on a calendar-year basis. The corporation
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Answer:

c. $44.44

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