1-Various cost and sales data for Dorilane Company for the just completed year appear in the...

 

Transcribed Image Text:

1-Various cost and sales data for Dorilane Company for the just completed year appear in the work sheet below: (11 marks) Microsoft Excel Ele Edit View Insert Format Tools Data Window Help 100% 12 1 2 SR X BIURE E17 fix A Finished goods inventory, beginning Finished goods inventory, ending 3 Administrative expenses 4 Manufacturing overhead 5 Purchases of raw materials 6 7 % A Raw materials inventory, beginning Raw materials inventory, ending 8 Direct labor 9 Work in process inventory, beginning 10 Work in process inventory, ending 11 Sales 12 Selling expenses 13 Sheet1/Sheet2 Sheet3/ B $20,000 $40,000 $110,000 $105,000 $125,000 $9,000 $6,000 $70,000 $17,000 $30,000 $500,000 $80,000 DIS Required: 1. Calculate cost of goods manufactured. (4 marks) 2. Calculate the cost of goods sold. (3 marks) 3. Compute the net income for the given year. (4 marks) 1-Various cost and sales data for Dorilane Company for the just completed year appear in the work sheet below: (11 marks) Microsoft Excel Ele Edit View Insert Format Tools Data Window Help 100% 12 1 2 SR X BIURE E17 fix A Finished goods inventory, beginning Finished goods inventory, ending 3 Administrative expenses 4 Manufacturing overhead 5 Purchases of raw materials 6 7 % A Raw materials inventory, beginning Raw materials inventory, ending 8 Direct labor 9 Work in process inventory, beginning 10 Work in process inventory, ending 11 Sales 12 Selling expenses 13 Sheet1/Sheet2 Sheet3/ B $20,000 $40,000 $110,000 $105,000 $125,000 $9,000 $6,000 $70,000 $17,000 $30,000 $500,000 $80,000 DIS Required: 1. Calculate cost of goods manufactured. (4 marks) 2. Calculate the cost of goods sold. (3 marks) 3. Compute the net income for the given year. (4 marks)

Answer rating: 100% (QA)

1 To calculate the cost of goods manufactured we need to add up the direct materials used direct lab... View the full answer