Reference no: EM131063444
Alhambra Aluminum Company
Alhambra Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1.
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Inventory Classification
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January 1, 20x1
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December 31, 20x1
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Raw material
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$ 55,000
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$ 75,000
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Work in process
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110,000
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125,000
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Finished goods
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160,000
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155,000
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During 20x1, the company purchased $240,000 of raw material and spent $420,000 for direct labor. Manufacturing overhead costs were as follows:
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Indirect material
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$ 12,000
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Indirect labor
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22,000
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Depreciation on plant and equipment
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110,000
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Utilities
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23,000
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Other
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35,000
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Sales revenue was $1,210,000 for the year. Selling and administrative expenses for the year amounted to $105,000. The firm's tax rate is 35 percent.
Required:
1. Prepare a schedule of cost of goods manufactured.
2. Prepare a schedule of cost of goods sold.
3. Prepare an income statement.
4. Build a spreadsheet: Construct an Excel spreadsheet to solve all of the preceding requirements. Show how both cost schedules and the income statement will change if the following data change: direct labor is $410,000 and utilities cost $24,000.
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Project management-the managerial process
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Take the firm to recover its initial investment in project
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Scope control system and the communication
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