Reference no: EM132529736
Problem 1: Towson Manufacturing had a Work in Process balance of $54,000 on January 1, 2018. The year end balance of Work in Process was $108,000 and the Cost of Goods Manufactured was $760,000. Use this information to determine the total manufacturing costs incurred during the fiscal year 2018. (Round enter as whole dollars only.)
Problem 2: During FY 2018, Towson Manufacturing had a beginning finished goods inventory of $25,000 & ending finished goods inventory of $25,500. Beginning work-in-process was $13,000 and ending work-in-process was 14,500. Factory overhead was $22,500. The total manufacturing costs amounted to $296,000. Use this information to determine the FY 2018 Cost of Goods Sold. (Round enter as whole dollars only.)
Problem 3: During FY 2019, Dorchester Company plans to sell Widgets for $15 a unit. Current variable costs are $6 a unit and fixed costs are expected to total of $138,000. Use this information to determine the number of units of Widgets for Dorchester to breakeven. (Round to the nearest whole number)
Problem 4: During FY 2019, Dorchester Company plans to sell Widgets for $14 a unit. Current variable costs are $6 a unit and fixed costs are expected to total of $188,000. Use this information to determine the dollar value of sales for Dorchester to breakeven. (Round to the nearest whole dollar)
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