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azamat
3 years ago
15

ost Flow Relationships The following information is available for the first year of operations of Engle Inc., a manufacturer of

fabricating equipment: Sales $1,326,700 Gross profit 358,200 Indirect labor 119,400 Indirect materials 49,100 Other factory overhead 22,600 Materials purchased 676,600 Total manufacturing costs for the period 1,464,700 Materials inventory, end of period 49,100 Using the above information, determine the following missing amounts: a. Cost of goods sold $fill in the blank 1 b. Direct materials cost $fill in the blank 2 c. Direct labor cost $fill in the blank 3
Business
1 answer:
vredina [299]3 years ago
8 0

Answer and Explanation:

The computation is shown below

a . The cost of goods sold is

= Sales - cost of goods sold

= $1,326,700 - $358,200

= $968,500

b. The direct material cost is

= Material purchased - ending inventory - indirect materials

= $676,600 - $49,100 - $49,100

= $578,400

c, The direct labor cost is

= Total manufacturing overhead cost - other factory overhead - direct material cost - indirect material - indirect labor

= $1,464,700 - $22,600 - $578,400 - $49,100 - $119,400

= $695,200

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Answer:

a. 4 years

b. 5 years

Explanation:

The payback period is the time taken for the cash inflows from an investment to equal to the initial cash outflow or amount invested. To get this, the cash inflow are deducted from the outflows until the net is zero.

Considering both expected cash flows (all amounts in $);

Period    Initial out flow   Inflow         Balance         Inflow         Balance

Year 0    (1,200,000)              0          (1,200,000)       0            (1,200,000)      

Year 1                             300,000       (900,000)    150,000     (1,050,000)

Year 2                            300,000       (600,000)    150,000     (1,050,000)

Year 3                            300,000       (300,000)    400,000     (1,050,000)  

Year 4                            300,000               0           400,000     (1,050,000)  

Year 5                                                                        100,000     (1,050,000)

From the table above, with an inflow of $300,000 yearly, the inflows would equal the total outflow in 4 years while the annual cash flows: $150,000, $150,000, $400,000, $400,000, and $100,000 would make the inflows equal to the outflows in 5 years.

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