gen.wileyplus.com/edugen/student/mainfr.uni LUS I Weygandt, Managerial Accountin

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gen.wileyplus.com/edugen/student/mainfr.uni LUS I Weygandt, Managerial Accounting, 7e MANAGERIAL ACCOUNTING (ACCT 105) Assignment ent STON BACK NET Question 1 McQueen Motor Company manufactures automobiles. During September 2017, the company purchased 6,300 head la remaining 5,789 lamps were put in autos manufactured during the month. ofthe autos put into production during September 201 mps at a cost of $11 per lamp. McQueen lamps were put in autos manufa the month. 70 of these lamps were used to replace the head lamps in autos used by traveling sales staff. The 17, 8396 were completed and transferred to the company's storage lot. Of the cars completed during the month, 75% were sold by September 30. Determine the cost of head lamps that would appear in each of the following accounts at September 30, 2017: Raw Materials, Work in Process, Finished Goods, Cost of Goods Sold, and Selling Expenses. (Round answers to o decimal places, e.g. 1,525.) Raw Materials Work in Process Finished Goodss Cost of Goods Sold Selling Expenses s LINK TO TEXT SAVE FOR LATER Question Attempts: O of 3 used

Explanation / Answer

1. Raw Materials = (6300-5859)*11 = 4851

2. WIP =( 5859-70)*11 *17%= 10,825.43

3. Finished goods = 63678.17*25%= 15919.5425

4. COGS = 63678.17*75% = 47758.6275

5. Selling Exp = 70*11 = 770

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