Give the amounts of the following with respect to the cost of goods available for sale: (1)
Question:
Give the amounts of the following with respect to the cost of goods available for sale:
(1) Prime costs,
(2) Conversion costs,
(3) Factory overhead, and
(4) Indirect manufacturing costs.
Exhibits 4-4
Transcribed Image Text:
Sales (8,000,000 units @ $10) Cost of goods manufactured and $80,000,000 sold: Beginning finished- goods inventory Cost of goods $ -0- manufactured: %24 Direct materials $20,000,000 used Direct labour 12,000,000 Factory overhead Cost of goods 8,000,000 40,000,000 40,000,000 available for sale Ending finished- goods inventory 2,000,000 units @ $4 Cost of goods sold (an expense) Gross margin or gross profit Less: Other expenses 8,000,000 32,000,000 48,000,000 Selling expenses 30,000,000 General and administrative 8,000,000 38,000,000 expenses Operating income* $10,000,000
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Related Book For
Management Accounting
ISBN: 978-0132570848
6th Canadian edition
Authors: Charles T. Horngren, Gary L. Sundem, William O. Stratton, Phillip Beaulieu
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