Reference no: EM132557562
Question - The following selected account balances for the year ended December 31 are provided for Amita Company:
Purchases of raw materials $260,000
Direct labour 65,000
Maintenance, factory 74,000
Selling and administrative salaries 179,000
Depreciation, factory equipment 110,000
Cleaning supplies 6,000
Sales commissions 350,000
Utilities, factory building 52,000
Rent, factory 90,000
Depreciation, sales equipment 80,000
Insurance, factory equipment 8,000
Advertising expense 300,000
In addition, you have the following information about inventories during the year:
Increase in raw materials $10,000
Decrease in work in process $15,000
Beginning finished goods $30,000 (1,000 units)
Ending finished goods $? (3,400 units)
Equivalent units produced $? (27,600 units)
Cleaning supplies are in the factory.
Assume the company uses FIFO.
Required -
(a) Calculate the cost of the 27,600 equivalent units that were produced during the year.
(b) Calculate the cost of the ending finished goods inventory.
(c) Calculate the cost of goods sold.
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