Cost information for fiscal year

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Reference no: EM131440819

Shadow’s Sprockets had the following cost information for fiscal year 2016: Materials – 01/01/16 $ 47,500 overhead $ 677,400 Work-in-Process – 01/01/16 316,000 net income 535,400 Finished Goods – 01/01/16 161,000 purchase of materials 386,000 Finished Goods – 12/31/16 139,600 admin expenses 526,000 Work-in-Process – 12/31/16 243,800 selling expenses 311,000 Materials – 12/31/16 51,200 direct labor 411,000 (Hint: Prepare a COGM schedule and I/S. THINK!) a. What was the 2016 total current manufacturing cost? b. What was the cost of goods manufactured for 2016? c. What was cost of goods sold for 2016? d. What was gross profit for 2016? e. What was Sales for 2016?

Reference no: EM131440819

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