Accounting help for 10?

Question

Elder Inc. has supplied the following information:

Amortization factory $29,900.00
Direct labor $82,400.00
Direct material purchases $96,300.00
Factory insurance $8,600.00
Factory maintenance $23,500.00
Factory utilities $16,800.00
General and administrative expenses $71,200.00
Indirect labor $18,400.00
Indirect materials $7,200.00
Sales $475,000.00
Selling expenses $67,600.00
Beginning direct materials inventory $12,300.00
Beginning work-in-process inventory $25,900.00
Beginning finished goods inventory $62,700.00
Ending direct materials inventory $14,500.00
Ending work-in-process inventory $33,300.00
Ending finished goods inventory $55,500.00

Required:

Compute the cost of goods manufactured.

























Assume cost of goods manufactured to be $280,000.00,
compute the cost of goods sold.









Assume cost of goods sold to be $260,700.00, compute
the net income.

Answer 1

Do your own home work. You won't learn a darn thing by having somebody else do your home work.

Answer 2

The cost of goods manufactured is the sum of direct materials, direct labor, and manufacturing overhead incurred during the period. Manufacturing overhead includes all costs of manufacturing other than direct materials and direct labor. Examples include indirect materials, indirect labor, and factory related depreciation, repair, insurance, maintenance, utilities, property taxes, and so forth.
Cost of goods mfd will be the total of :
Amortization factory $29,900.00
Direct labor $82,400.00
Direct material purchases $96,300.00
Factory insurance $8,600.00
Factory maintenance $23,500.00
Factory utilities $16,800.00
Indirect labor $18,400.00
Indirect materials $7,200.00
Beginning direct materials inventory $12,300.00
Beginning work-in-process inventory $25,900.00
less:
Ending direct materials inventory $14,500.00
Ending work-in-process inventory $33,300.00

Giving a cost of goods mfd of $273,500

Cost of goods sold (COGS):
Beginning finished goods inventory $62,700.00
Cost of goods mfd $280,000 (assumed)
less:
Ending finished goods inventory $55,500.00

Giving a COGS of $287,200

Net income:
Sales $475,000.00
less:
COGS $260,700 (assumed)
General and administrative expenses $71,200.00
Selling expenses $67,600.00

Giving net income of $75,500

Answer 3

For what i can see you are trying to get your homework resolved....
Nope i do not think so...
i did my own....
pick your brain and do yours...
i had no calculator, nor a computer at that time.
so now you do.
USE THEM AND APPLY YO OUR SEEELFFFFF BUT USE THEM TO DO YOUR OWN HOMEWORK NOT TO ASK OTHERS TO DO IT FOR YOU.