Green load Manufacturing Company produced 100,000 units during 2019 and provided the following information for the year
Question:
Green load Manufacturing Company produced 100,000 units during 2019 and provided the following information for the year ended December 31, 2019:
Raw material inventory, January1 $31,000
Raw materials inventory, December31 19,000
Finished goods inventory, January1 35,000
Finished goods inventory, December31 40,000
Work in process inventory, January1 28,000
Work in process inventory, December31 14,000
Raw materials purchases 95,000
Direct labor 73,000
Glue used in production 1,500
Factory’s supervisor’s salaries 8,000
Insurance for the factory’s buildings 5,000
Insurance for the administrative buildings 2,000
Factory’s janitor’s salaries 1,000
Depreciation for the administrative buildings 1,200
Depreciation for the factory’s equipment 1,750
Sales revenue 262,000
Interest expenses 4,000
Interest revenues 3,000
Gain from the sale of equipment 12,000
Sales return and allowances 7,000
Sales discount 5,000
1- Prepare the Schedule of cost of goods manufactured.
2- Find the cost per unit.
3- Assume the target profit is 25%, how much should be the selling price per unit.
4- Prepare the income statement.
Expert Answer:
Answer 1 Schedule of cost of goods manufactured Direct materials Beginning inventory 31000 Purchases ... View the full answer
