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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 job consisted of 8,100 units and was completed in 37,500 hours at a total labor cost of $489,800. What is the direct labor rate variance?
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Datan historically collects 70% of its sales in the month of sale and 30% in the following month. How much cash does Datan expect to collect in April?
Each unit requires 1.5 direct labor hours and Becker's hourly. Compute Becker's direct labor budget for May and June. Do not round intermediate calculations.
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Compute equivalent units of production for materials and for conversion costs - Determine the unit costs of production.
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