2018 CengegeNOw2 Onine leaching and learning resource from Cengage NC 02.23 rind

Question

2018 CengegeNOw2 Onine leaching and learning resource from Cengage NC 02.23 rinder Company provided the following information for the last calendar year Beginning inventory: Direct materials Work in process Ending inventory: $19,300 41,200 Direct materials $16,000 Work in process 30,600 During the year, direct materials purchases amounted to $275,800, direct labor cost was $15 was $267,300. There 3,000, and overhead cost were 25,000 units produced. Unit manufacturing cost (rounded to the nearest cent) is a. $27.98 b. $27.55 9$28.40 d. $34.95 3. MC.02.24 Last year, Orsen Company produced 25,000 juicers and sold 26,500 Juicers for $60 each. The actual variable unit cost is as follows: Direct materials Direct labor Variable overhead Variable selling expense $16.00 5.30 2.90 2.40 Total unit variable cost $26.60 Fixed overhead was $320,000. Fixed selling expenses consisted of advertising copayments totaling $110,000. Fixed administrative expenses were $236,000. There were no beginning and ending work-in-process inventories. Beginning finished goods inventory was $148,000 for 4,000 juicers. The value of ending inventory reported on the financial statements was a. $39,900 b. $92,500 C. $66,500 d. $55,500 4. MC.02.25 Last year, Orsen Company produced 25,000 juicers and sold 26,500 juicers for $60 each. The actual variable unit cost is as follows: Direct materials $16.00 3/4

Explanation / Answer

2) Direct material used = 19300+275800-16000 = 279100

Total manufacturing cost = 279100+153000+267300 = 699400

Cost of goods manufactured = 699400+41200-30600 = 710000

Unit cost of manufacture = 710000/25000 = $28.40

So answer is c) $28.40

3) Calculate value of inventory :

So answer is b) $92500

Direct material (16*25000) 400000 Direct labour (5.30*25000) 132500 Variable overhead (2.9*25000) 72500 Fixed overhead 320000 Total 925000 Value of ending inventory (925000/25000*2500) 92500

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