need help with the last 2 questions Various cost and sales data for Meriwell Com

Question

need help with the last 2 questions

Various cost and sales data for Meriwell Company for the just-completed year follow: Finished goods inventory, beginning Finished goods inventory, ending Depreciation, factory Administrative expenses Utilities, factory Maintenance, factory Supplies, factory Insurance, factory Purchases of raw materials Raw materials inventory, beginning Raw materials inventory, ending Direct labour Indirect labour Work-in-process inventory, beginning Work-in-process inventory, ending Sales Selling expenses $35,000 70,000 29,000 122,000 11,000 85,000 13,000 5,600 140,000 13,000 8,000 85,000 13,500 22,000 34,000 575,000 84,000

Explanation / Answer

SOLUTION

3. Average costs-

Direct materials = Total direct material / No. of units

= $145,000 / 10,000 units = $14.5 per unit

Factory Depreciation = $29,000 / 10,000 = $2.9 per unit

4. Direct materials-

Unit cost = $145,000 / 10,000 units = $14.5 per unit

Total costs = 20,000 units * $14.5 per unit = $290,000

Factory Depreciation-

Unit cost = $29,000 / 10,000 = $2.9 per unit

Total costs = 20,000 units * $2.9 per unit = $58,000

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