hi.
can any1 help me..i cant solve this assignemnt
help me .u can see the attached file
The following information was taken from the books and records Abc Manufacturing for the year ended 31st December, 2006.
--------------------------Units------Cost ($.)
Sales during the year 8,000 ?
Opening Inventories:
Work in process - -
Finished goods 1,800 ?
Closing Inventories:
Work in process 100 ?
Finished goods 2,000 ?
Manufacturing Cost:
Direct Material 30,000
Direct Labor 20,000
Factory Overhead 16,000
The foreman has submitted the following cost estimate for the closing work in process Inventory:
Direct material cost $ 2,700
Direct Labor cost $ 1,000
The company’s past experience showed that factory overhead cost tends to fluctuate closely in proportion to direct labor cost.
Required:
1. Determine the number of units that were manufactured during the year (1.5)
2. complete the foreman’s estimate of the cost of work in process (1.5)
3. Prepare a manufacturing statement for the year (3.5)
4. Determine the cost of each unit manufactured during the year (1.5)
5. Assume that the first cost recorded in the Finished goods account is the first costs to be credited to the account. Determine the ending Inventory of Finished goods and the Cost of Goods Sold. (2)
Linear Mode
