one year. Also indicate the cumulative amount in stockholders\' equity at the en

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one year. Also indicate the cumulative amount in stockholders' equity at the end of one year. [Internal Operating Schedules] Assume you are starting a new business involving the manufacture and sale of a new product. Raw materials costs are $40 per product. Direct labor costs are expected to be $30 per product. You expect to sell each product for $110. You plan to produce 100 products next month and expect to sell 90 products. Prepare cost of production, cost of goods sold, and inventories schedules for next (the first) month. During the second month, you plan to produce 110 products but expect sales in the month to be 115 products. Prepare cost of production, cost of goods sold, and inventories schedules for the second month. [Internal Operating Schedules) Assume you have developed and tested a prototype electronic product and are about to start your new business. You purchase preprogrammed computer chips at $70 per unit. Other component costs include plastic casings at $ 15 per unit and assembly hardware at $5 per unit. Direct labor costs are $15 per hour and markup over the total costs of producing each unit. The plan is to produce 500 product units per month in January, February, and March. Sales are ex

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