During 2007, Gateway, Inc., produced and sold 50,000 units for $15 each. Costs were as follows:...

    

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During 2007, Gateway, Inc., produced and sold 50,000 units for $15 each. Costs were as follows: Cost of goods manufactured Beginning Finished Goods inventory Ending finished goods inventory Beginning work in process Ending work in process Sales commissions Sale's supervisor's salaries Depreciation on factory equipment Administrative expenses Indirect Materials $400,000 20,000 35,000 60,000 58,000 40,000 30,000 45,000 12,500 22,500 Required: Prepare an income statement for Gateway, Inc. The following information is provided for the Holland Company for the current year: Beginning work in process Ending work in process Direct labor Direct Materials Manufacturing Overhead $150,000 70,000 160,000 120,000 200,000 Required: Calculate the cost of goods manufactured for the current year. (Show supporting calculations). Kolaser Company has the following production data for the month of July: Direct labor $250,000 Actual overhead 350,000 Direct materials used 400,000. Warehousing 40,000 Kolaser's conversion cost for July is During 2007, Gateway, Inc., produced and sold 50,000 units for $15 each. Costs were as follows: Cost of goods manufactured Beginning Finished Goods inventory Ending finished goods inventory Beginning work in process Ending work in process Sales commissions Sale's supervisor's salaries Depreciation on factory equipment Administrative expenses Indirect Materials $400,000 20,000 35,000 60,000 58,000 40,000 30,000 45,000 12,500 22,500 Required: Prepare an income statement for Gateway, Inc. The following information is provided for the Holland Company for the current year: Beginning work in process Ending work in process Direct labor Direct Materials Manufacturing Overhead $150,000 70,000 160,000 120,000 200,000 Required: Calculate the cost of goods manufactured for the current year. (Show supporting calculations). Kolaser Company has the following production data for the month of July: Direct labor $250,000 Actual overhead 350,000 Direct materials used 400,000. Warehousing 40,000 Kolaser's conversion cost for July is

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