Brighton Ltd. cost and sales information for its fiscal year ended December 31, 2020, are shown...

 

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Brighton Ltd. cost and sales information for its fiscal year ended December 31, 2020, are shown below: Purchases of raw materials Raw materials inventory, beginning Brighton Ltd Cost and Sales Information For the Year Ended December 31, 2020 Raw materials inventory, ending Depreciation, factory Insurance, factory Direct labour Maintenance, factory Administrative expense Sales Utilities, factory 91,000 11,000 18,000 42,600 5,000 61,000 30,000 70,400 460,000 27.000 Supplies, factory Selling expense Advertising expense Indirect labour, factory Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending Requirement 1: 20mks Prepare a schedule of cost of goods manufactured. Requirement 2: 20mks Prepare an income statement. 1,000 80,400 20,400 65,000 7,000 30,000 10,000 40,000 Requirement 3: Smks Assume that the company produced 10.000 units of product during the year. What was the average cost per unit for direct materials? What was the average cost per unit for factory depreciation? (Round your answers to 2 decimal places) Requirement 4: Smks 4. Assume that the company expects to produce and sell 15.000 units of product during the coming year. What average cost per unit and what total cost would you expect the company to incur for direct materials and for factory depreciation at this level of activity? Assume that raw materials costs charged by suppliers will not change next year. For factory depreciation, assume that the company Brighton Ltd. cost and sales information for its fiscal year ended December 31, 2020, are shown below: Purchases of raw materials Raw materials inventory, beginning Brighton Ltd Cost and Sales Information For the Year Ended December 31, 2020 Raw materials inventory, ending Depreciation, factory Insurance, factory Direct labour Maintenance, factory Administrative expense Sales Utilities, factory 91,000 11,000 18,000 42,600 5,000 61,000 30,000 70,400 460,000 27.000 Supplies, factory Selling expense Advertising expense Indirect labour, factory Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending Requirement 1: 20mks Prepare a schedule of cost of goods manufactured. Requirement 2: 20mks Prepare an income statement. 1,000 80,400 20,400 65,000 7,000 30,000 10,000 40,000 Requirement 3: Smks Assume that the company produced 10.000 units of product during the year. What was the average cost per unit for direct materials? What was the average cost per unit for factory depreciation? (Round your answers to 2 decimal places) Requirement 4: Smks 4. Assume that the company expects to produce and sell 15.000 units of product during the coming year. What average cost per unit and what total cost would you expect the company to incur for direct materials and for factory depreciation at this level of activity? Assume that raw materials costs charged by suppliers will not change next year. For factory depreciation, assume that the company

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ANSWER Requirement 1 Schedule of Cost of Goods Manufactured Amount Raw materials inventory beginning 11000 Add Purchases of raw materials 91000 Total ... View the full answer