Reference no: EM13535074
Classify the costs listed in the previous problem as either product costs or period costs.
Good Vibrations, Inc., produces videotapes of musical performances. A newly hired executive of the company has asked you to sort through the records and prepare a statement of the company"s cost of goods manufactured. You find the following data from records prepared by Good Vibrations, Inc., for the year ended 2009 December 31:
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Inventories:
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Beginning direct materials inventory, 2009 January 1
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$6,000
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Ending direct materials inventory, 2009 December 31
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10,500
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Beginning work in process inventory, 2009 January 1
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10,000
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Ending work in process inventory, 2009 December 31
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9,500
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Materials purchases
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50,000
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Direct labor
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40,000
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Indirect labor
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15,000
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Factory utilities expense
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7,000
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Factory supplies expense
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5,000
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Depreciation expense - factory building
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14,000
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Depreciation expense - Factory Equipment
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10,500
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Other manufacturing overhead
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25,000
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You also learn that beginning Finished Goods Inventory on 2009 January 1, was USD 20,000 and ending Finished Goods Inventory on 2009 December 31, was USD 5,000. Sales for the year were USD 400,000. Selling expenses were USD 50,000 and administrative expenses were USD 75,000.
a. Prepare a statement of cost of goods manufactured for Good Vibrations, Inc., for the year ended 2009 December 31.
b. Prepare an income statement for Good Vibrations, Inc., for the year ended 2009 December 31.
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Explain the reaction is first order in so2cl2
: The reaction is first order in SO2Cl2 and the rate constant is 3.0 × 10-6 s-1at 600 K. A vessel is charged with 3.3 atm of SO2Cl2 at 600 K. The partial pressure of SO2 at 3.0 × 105 s is __________ atm.
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Effect of light intensity on the rate of photosynthesis
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Define the maximum number of water molecules
: Urea is an organic compound widely used as a fertilizer. its solubility in water allows it to be made into aqueous fertilizer solutions and applied to crops in a spray. what is the maximum number of water molecules that one urea molecule can hydrog..
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: A skier starts from rest at the top of a hill that is inclined at 10.9° with respect to the horizontal. How far does the skier glide along the horizontal portion of the snow
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Prepare an income statement for good vibrations
: Prepare a statement of cost of goods manufactured for Good Vibrations, Inc., for the year ended 2009 December 31 and prepare an income statement for Good Vibrations, Inc., for the year ended 2009 December 31.
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Pathogens synthesize proteins at ribosomal sites
: Given that both human cells and pathogens synthesize proteins at ribosomal sites, how can antimicrobial agents that target this process be safe to use in humans?
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Find out the number of grams h2 formed
: Determine the number of grams H2 formed when 250.0 mL of 0.743 M HCl solution reacts with 3.41 x 1023 atoms of Fe according to the following reaction. 2 HCl(aq) + Fe(s) ? H2(g) + FeCl2(aq)
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Compute what fraction is this force of the satellites weight
: A 2130 satellite used in a cellular telephone network is in a circular orbit at a height of 800above the surface of the earth. What fraction is this force of the satellite's weight at the surface of the earth
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Prepare statement of cost of goods for presley manufacturing
: Prepare a statement of cost of goods manufactured for Presley Manufacturing Company for 2009 and prepare an income statement for the year ended 2009 December 31.
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