Question: PLEASE HELP!!! First response was wrong and incomplete and have wasted 2 questions but no answers. Please help me. Belmain Co. expects to maintain the


Belmain Co. expects to maintain the same inventories at the end of 2017 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: Estimated Estimated Variable Cost Fixed Cost (per unit sold) Production costs: Direct materials $22 Direct labor 14 Factory overhead $225,800 11 Selling expenses: Sales salaries and commissions 46,900 Advertising 15,900 Travel 3,500 Miscellaneous selling expense 3,900 Administrative expenses Office and officers' salaries 45,900 Supplies 5,600 Miscellaneous administrative expense $352,00 $60 Total It is expected that 6,720 units will be sold at a price of $200 unit. Maximum sales within the relevant mange are 8.000 Required: 5.300 Belmain Co. Estimated Income Statement For the Year Ended December 31, 2047 Sales 1,600,000 X Cost of goods sold: Direct materials 176,000 X Direct labor 112,000 X Factory overhead 88,000 X Cost of goods sold
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