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A company manufactured 1,000 units of product during the year and sold 900 units. Costs incurred during the current year are as follows: Direct materials and direct labor $9,000 Indirect materials and indirect labor 4,000 Insurance on manufacturing equipment 2,400 Advertising 1,600 Total 17,000 Problem 1: What amount should be reported as inventory in the company's year-end balance sheet? Problem 2: What is the Cost of Goods Sold for the year?
Problem 3: What is the ending inventory at year end?
The Manufacturing Overhead Account, State the ending balance of the Manufacturing Overhead account and state whether overhead is overapplied or underapplied.
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Dunkin Donuts raises the price of its French Vanilla coffee by 15%. The demand for Dunkin Donuts glazed doughnuts will change in what direction?
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