Question: answer these based off the pdf document for refreshing iced tea: 1 . A Production Cost Report using both the weighted average and FIFO methods
answer these based off the pdf document for refreshing iced tea:
A Production Cost Report using both the weighted average and FIFO methods of assigning costs
to goods transferred out and ending inventory. points
Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold using both the
Weighted Average and FIFO methods of assigning costs to goods transferred out and ending
inventory. points
Gross Margin and Contribution Margin Income Statements HINT: For the Gross Margin Income
Statement, Total Cost of Goods Sold should be equal to the Cost of Goods Sold calculated based
on the FIFO method of assigning costs to goods transferred out and ending inventory
points
A BreakEven Analysis that includes all of the following components HINT: Use the information
from parts a b and c above for your calculations points
a BreakEven in gallons and dollars
b Target Profit in gallons and dollars if the company wants a net operating income of
$ after taxes. The tax rate is
c Margin of Safety expressed in dollars, units, and as a percentage of sales.
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