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    Rayneboe_mollar's Avatar
    Rayneboe_mollar Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 8, 2014, 08:50 AM
    Accounting problem help please
    A company that produces, promotes, and sells music CD’s
    1. I need to prepare an income statement
    2. Find balances for work-in-progress and finished goods inventory

    Info I have to go on is as follows:
    Direct materials cost is $3.00/unit
    Direct labor cost is .25/unit
    Copy machine cost is $1200/hour (making 2400 units/hr)
    Total number of units copied is 1,025,000
    Units sold is 850,000 (wholesale price to store is $16)
    Promo materials cost $40/store (42,500 stores)
    Media costs were $4,000,000
    Legal fees were $1,200,000
    Shipping costs are $0.25/unit
    1,000,000units are complete
    25,000 units copied but not completed at end of cycle
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #2

    Apr 9, 2014, 04:20 PM
    well then you have a lot of methodical work to do, sorry but it's up to you
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