Question list $,$larr

Question $1$

Requirement $1.$ Calculate direct materials inventory, total cost, December $31,2020.$

Determine the formula, then calculate ending direct materials total cost.

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Houston Office Equipment manufactures and sells metal shelving. It began operations on January $1,2020.$

$($Click the icon to view the costs incurred during $2020.)($Click the icon to view the inventory data.$)$

inventory at December $31,2020,$ was $$23,000.$

Read the requirements.

Requirements

Calculate direct materials inventory, total cost, December $31,2020$

Calculate finished$-$goods inventory, total units, December $31,2020$

Calculate selling price in $2020.$

Calculate operating income for $2020$

Print

Done

Data table

Data table

Costs incurred for $2020$ are as follows $($V stands for variable; F stands

for fixed$)$:

Inventory data are as follows:

Direct materials used

Direct manufacturing labor costs

Plant energy costs

Indirect manufacturing labor costs

Indirect manufacturing labor costs

Other indirect manufacturing costs

Other indirect manufacturing costs

Marketing, distribution, and customer$-$service costs

Marketing, distribution, and customer$-$service costs

Administrative costs

Variable manufacturing costs are variable with respect to units produced.

Variable marketing, distribution, and customer$-$service costs are variable with

respect to units sold.

$$143,000V$

$$38,000V$

$$6,000V$

$$14,000V$

$$18,000F$

$$10,000V$

$$24,000F$

$$123,000V$

$$50,000F$

$$50,000F$

Print

Beginning: January Ending: December

$1,2020$

$31,2020$

Direct materials

Work in process

Finished goods

Production in $2020$ was $110,000$ units. Two pounds of direct materials are

used to make one unit of finished product.