cook co reports the following information for 2011 496668
Cook Co. reports the following information for 2011.
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cook co reports the following information for 2011 496668
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|
Sandpaper |
$10,000 |
Direct labor |
$680,000 |
|
Small tools |
100,000 |
Materials inventory, Jan 1 |
120,000 |
|
Coolants & lubricants |
7,000 |
Materials inventory, Dec 31 |
86,000 |
|
Machine helpers’ salaries |
86,000 |
Materials purchased |
980,000 |
|
Finished goods, Jan 1 |
10,000 |
Sales |
4,000,000 |
|
Finished goods, Dec 31 |
400,000 |
Work-in-process, Jan 1 |
30,000 |
|
Leasing costs, plant |
120,000 |
Work-in-process, Dec 31 |
20,000 |
|
Depreciation, plant |
70,000 |
Sales Commissions |
200,000 |
|
Property taxes, equipment |
10,000 |
Insurance, factory equipment |
5,000 |
|
Sales salaries |
180,000 |
Advertising costs |
150,000 |
|
Office administration costs |
250,000 |
Units completed |
82,000 |
Determine the following for Cook Co. for 2011:
Cost of Goods Manufactured
Cost of Goods Sold
Unit Cost
Net Income (Loss)(assuming a 30% tax bracket).
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