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Calculate acme corporation cost of goods sold

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Reference no: EM133170221

Question - ACME Corporation produces scarves for all occasions in a variety of designer colours. 2022 Master budget data is as follows:

Quarter

1
(Jan - Mar)

2
(Apr - Jun)

3
(Jul - Sep)

4
(Oct - Dec)

Total

Sales (units)

15,000

18,000

21,000

24,000

78,000

Unit Price

$100

$100

$100

$100

-

Production (units)

18,000

21,600

25,200

28,800

93,600

Raw material required per unit (yards)

1.5

1.5

1.5

1.5

-

Raw material price per yard

$20

$20

$20

$20

-

Direct labour hours per unit

2

2

2

2

-

Direct labour rate

$20

$20

$20

$20

-

Manufacturing overhead allocations per unit

$10

$10

$10

$10

-

Selling, general and administrative expenses

$195,000

$195,000

$195,000

$195,000

$780,000

Required - For the Third (3rd) quarter of 2022

a) Calculate ACME Corporation's cost of goods sold - please show your calculations.

b) Prepare ACME Corporation's budgeted multi-step income statement; ignore interest and taxes.

Reference no: EM133170221

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