Charley Company manufactured 100,000 units during the year ended December 31 and reported the following: Direct...

  

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Charley Company manufactured 100,000 units during the year ended December 31 and reported the following: Direct material purchases Sandpaper used in production Administration costs Property taxes-plant Direct materials, 1/1 Direct materials, 12/31 Finished goods, 1/1 Finished goods, 12/31 Work-in-process, 1/1 Work-in-process, 12/31 Sales commissions $3,136,000 Sales revenue $12,800,000 384,000 320,000 32,000 Indirect manufacturing labor 275,200 384,000 Direct manufacturing labor 2,176,000 275,200 Advertising costs 480,000 672,000 Coolants & lubricants 1,280,000 Depreciation-equipment 96,000 Sales salaries 64,000 Fire insurance-equipment 640,000 32,000 Leasing costs-plant 800,000 Materials handling Required: a. What is the amount of direct materials used during the year? b. What is cost of goods manufactured for the year? c. What is cost of goods sold for the year? d. What is the company's operating income for the year? 22,400 224,000 576,000 16,000 Charley Company manufactured 100,000 units during the year ended December 31 and reported the following: Direct material purchases Sandpaper used in production Administration costs Property taxes-plant Direct materials, 1/1 Direct materials, 12/31 Finished goods, 1/1 Finished goods, 12/31 Work-in-process, 1/1 Work-in-process, 12/31 Sales commissions $3,136,000 Sales revenue $12,800,000 384,000 320,000 32,000 Indirect manufacturing labor 275,200 384,000 Direct manufacturing labor 2,176,000 275,200 Advertising costs 480,000 672,000 Coolants & lubricants 1,280,000 Depreciation-equipment 96,000 Sales salaries 64,000 Fire insurance-equipment 640,000 32,000 Leasing costs-plant 800,000 Materials handling Required: a. What is the amount of direct materials used during the year? b. What is cost of goods manufactured for the year? c. What is cost of goods sold for the year? d. What is the company's operating income for the year? 22,400 224,000 576,000 16,000

Answer rating: 100% (QA)

a Direct materials used during the year Direct materials 11 Direct material ... View the full answer