Abc began business in january 2009 the firm makes

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Reference no: EM13611066

ABC began business in January 2009. The firm makes anexercise machine for home and gym use. Following are data takenfrom the firm's accounting records that pertain to its firstmonth of operations. Direct material purchased onaccount $ 900,000 Direct material issued toproduction 377,000

Direct labor payrollaccrued 126,800

Indirect labor payrollpaid 40,600

Factory insuranceexpired 6,000

Factory utilitiespaid 17,800

Factory depreciationrecorded 230,300

Ending Work in ProcessInventory 51,000

Ending Finished Goods Inventory (30units) 97,500

Sales on account ($5,200 perunit) 1,040,000

a. How manyunits did the company sell in January 2009?

b. How many unitswere completed in January 2009?

c. What was theper-unit cost of goods manufactured for the month?

d. What was the costof goods sold in the first month of operations?

e. What was the grossmargin (in dollars) for July 2009?

Reference no: EM13611066

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