winneralready
Jul 11, 2007, 11:10 AM
Could you create a schedule of cost of goods manufactured and a manufacturing income statement for the information below:
Income Statement
For the Quarter Ended March 31
Sales(32,000 batteries) 960,000
Less Operating Expenses:
Selling and administratative salaries $110,000
Advertising 90,000
Maintanence, factory 43,000
Indirect labor cost 120,000
Cleaning supplies, factory 7,000
Purchases of raw materials 360,000
Rental cost, facilities 75,000
Insurance, factory 8,000
Depreciation, office equipment 27,000
Utilities 80,000
Depreciation, factory equipment 100,000
Direct labor cost 70,000
Travel, salespersons 40,000 1,130,000
Net operating loss 170,000
Beginning of the quarter End of the quarter
Raw materials $0 $10,000
Work in progress $0 $50,000
Finshed goods $0 ?
Additional information:
80% of the rental cost for facilities and 90% of the utilities cost relate to manuf. operations. The remaining amount relate to selling and admin. activities.
On April 3, just after the end of the first quarter, the company's finished goods storage area was swept by fire and all 8000 unsold batteries were destroyed.
Total costs for the quarter 1,130,000
Batteries produced during the quarter 40,000 units
=$28.25 per unit
8000 batteries x $28.25 per unit = $226,000
Can you help me solve all of this?
Thanks
Income Statement
For the Quarter Ended March 31
Sales(32,000 batteries) 960,000
Less Operating Expenses:
Selling and administratative salaries $110,000
Advertising 90,000
Maintanence, factory 43,000
Indirect labor cost 120,000
Cleaning supplies, factory 7,000
Purchases of raw materials 360,000
Rental cost, facilities 75,000
Insurance, factory 8,000
Depreciation, office equipment 27,000
Utilities 80,000
Depreciation, factory equipment 100,000
Direct labor cost 70,000
Travel, salespersons 40,000 1,130,000
Net operating loss 170,000
Beginning of the quarter End of the quarter
Raw materials $0 $10,000
Work in progress $0 $50,000
Finshed goods $0 ?
Additional information:
80% of the rental cost for facilities and 90% of the utilities cost relate to manuf. operations. The remaining amount relate to selling and admin. activities.
On April 3, just after the end of the first quarter, the company's finished goods storage area was swept by fire and all 8000 unsold batteries were destroyed.
Total costs for the quarter 1,130,000
Batteries produced during the quarter 40,000 units
=$28.25 per unit
8000 batteries x $28.25 per unit = $226,000
Can you help me solve all of this?
Thanks





