what is the unit product cost if knight manufactured 2 160 lamps for the year 552822
Preparing a statement of cost of goods manufactured
Knight, Corp., a lamp manufacturer, provided the following information for the year ended December 31, 2012:
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what is the unit product cost if knight manufactured 2 160 lamps for the year 552822
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|
Inventories: |
Beginning |
Ending |
|
|
Materials |
$ 56,000 |
$ 23,000 |
|
|
Work in process |
103,000 |
63,000 |
|
|
Finished goods |
41,000 |
48,000 |
|
|
Other information: |
|||
|
Depreciation: plant building and equipment |
$ 16,000 |
Repairs and maintenance–plant |
$ 8,000 |
|
Materials purchases |
159,000 |
Indirect labor |
32,000 |
|
Insurance on plant |
22,000 |
Direct labor |
122,000 |
|
Sales salaries expense |
46,000 |
Administrative expenses |
59,000 |
Requirements
1. Prepare a schedule of cost of goods manufactured.
2. What is the unit product cost if Knight manufactured 2,160 lamps for the year?
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