accounting question 380643
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The accounting records of NuTronics, Inc., include the following information for the year ended December 31, 2011. |
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| Dec. 31 | Jan. 1 | |||||||
| Inventory of materials | $ | 24,000 | $ | 20,000 | ||||
| Inventory of work in process | 8,000 | 12,000 | ||||||
| Inventory of finished goods | 90,000 | 80,000 | ||||||
| Direct materials used | 195,000 | |||||||
| Direct labor | 124,000 | |||||||
| Selling expenses | 170,000 | |||||||
| General and administrative expenses | 140,000 | |||||||
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| Overhead is assigned to production at $192,000. |
| a. |
Prepare a schedule of the cost of finished goods manufactured. (Not all of the data given above are used in this schedule.)(Input all amount as positive values. Omit the “$” sign in your response.) |
| NuTronics, Inc. | ||
| Schedule of the Cost of Finished Goods Manufactured | ||
| For the Year Ended December 31, 2011 | ||
| (Click to select) Work in process, December 31, 2011 Direct materials used Work in process, January 1, 2011 Direct labor Manufacturing overhead | $ | |
| Manufacturing costs assigned to production: | ||
| (Click to select) Manufacturing overhead General and administrative expenses Selling expense Direct labor Direct materials used | $ | |
| (Click to select) Direct labor General and administrative expenses Selling expense Manufacturing overhead Direct materials used | ||
| (Click to select) Direct materials used General and administrative expenses Manufacturing overhead Selling expense Direct labor | ||
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| Total manufacturing costs | ||
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| Total cost of all goods in process during the year | $ | |
| (Click to select) Less: Cost of goods sold Selling expenses Less: Work in process inventory, December 31, 2011 Add: Work in process inventory, December 31, 2011 Add: Cost of goods sold | ||
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| Cost of finished goods manufactured | $ | |
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| b. |
Assume that the company manufactures a single product and that 20,000 units were completed during the year. What is the average per unit cost of manufacturing this product?(Round your answer to 2 decimal places. Omit the “$” sign in your response.) |
| Average cost per unit | $ |
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