Course: ACC2110-104 PRINWileyPLUS Casey × Accounting question! Chegg × Secure l

Question

Course: ACC2110-104 PRINWileyPLUS Casey × Accounting question! Chegg × Secure l https://edugen.wileyplus.com/edugen/lti/main.uni Business Communic D Vll-Papers Teleco. GENERAL INFO: e.. C :: Apps Quiz 1 d How to Treat Cuban. Cultural Information. cuba business com.. Cuba-Communicati.. The World Factbook . Kimmel, Accounting, 6e Help System Announcements Home Read, Study & Practice Gradebook ORION Downloadable eTextbook Assignment>Open Assignment CALCULATORPRINTER VERSION BACK NEDCT ASSIGNMENT RESOURCES Exercise 21-13 Fultz Company has accumulated the following budget data for the year 2017 Exercise2- Exercise 21-6 (Part Exercise 21-6 1. Sales: 31,120 units, unit selling price $88 2. Cost or one unit of finished goods: direct materials 1 pound at $6 per pound, direct labor 3 hours at $12 per hour, and manufacturing overhead $8 per direct labor hour 3. Inventories (raw materials only): beginning, 10,290 pounds; ending, 15,240 pounds. 4. Selling and administrative expenses: $170,000; interest expense: $30,000 ubm Income taxes: 30% of income before income taxes. Exerise 21-9 Prepare a schedule showing the computation of cost of goods sold for 2017 Level Submission) FULTZ COMPANY Computation of Cost of Goods Sold Cost of one unit of finished goods ob Direct materials Direct labor Manufacturing overhead Total Cost of Goods Sold Version 4.24.2.4

Explanation / Answer

Cost of one unit of finished goods Direct Materials (1*6) 6 Direct labor (3*12) 36 Manufacturing overhead (3*8) 24 Total 66 cost of Goods sold Budgeted income statement Sales (31,120*88) 2738560 cost of goods sold (31,120*66) 2053920 Gross profit 684640 selling and adminitrative expenses 170,000 income from operations 514,640 interest expense 30,000 income before tax 484,640 less income tax (484,640*30%) 145392 net income 339,248

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---