Reference no: EM132870065

Problem 1 - Morning Smiles Coffee Company manufactures Stoneware French Press coffee makers. During the month of March, the company purchased $350,000 of materials. Also during the month of March, Morning Smiles incurred direct labor cost of $74,000 and manufacturing overhead of $190,000. Inventory information is as follows: Calculate the cost of one coffee maker assuming that 8,100 coffee makers were completed during June.

Problem 2 - Morning Smiles Coffee Company manufactures Stoneware French Press coffee makers. During the month of March, 8,100 coffee makers were completed at a cost of goods manufactured of $607,500. Suppose that on March 1, Morning Smiles had 1,000 units in finished goods inventory costing $70,000 and on March 31, 1,100 units in finished goods inventory costing $65,000. Prepare a cost of goods sold statement for the month of March.