a. Calculate the cost of goods manufactured for the year by Gopaul Electronicsb.) Prepare an income statement for Gopaul Electronics for the year ended December 31, 2023, clearly showing the calculation of Cost of Goods Sold. List the non-production overheads in order of size starting with the largest.c) What is the selling price per switch if Gopaul Electronics manufactured 1,500 switches for the period under review and uses a mark-up of 33⅓% on cost? =+Parap Group DevelC Ⓒ File | C:/Users/USER/Downloads/Assignment %20%231%20_%20Individual%20Assignment.pdfVIDrawType here to searchPDF A X(T)the imRead aloud Ask CopilotInventory1/1/2023 31/12/2023Raw Materials$260,000 $230,000Work In Progress $333,800 $218,800Finished Goods $1,075,200 $615,000Other information:fromSales RevenueFactory suppliesDirect Factory LaborSpecial Design CostRaw Materials PurchasedPlant janitorial serviceDepreciation: Plant & EquipmentPlant UtilitiesPlant supervisor's salary1Property Taxes ¹R & D for Graphic DesignsOffice UtilitiesDevelQ onlineDevelInsurance on Plant & EquipmentDelivery truck driver's wagesDepreciation: Delivery truckAdministrative Wages & SalariesSales Commission+2$5,765,00045,000735,00015,000540,00052,000165,000385,000480,000300,00070,500165,000120,000125,00052,000850,15097,650¹ The property taxes should be shared: 60% manufacturing & 40% general & administrative costs.JFull ar Qhas thof 5 CDOCR FacebNEWHaras aletter a letter +()QI28°C[+]I60Ca383|29:46 PM2/20/2024

Direct Materials Used: Direct Labor: Manufacturing Overhead Applied: let's calculate each…

Answered: a. Calculate the cost of goods…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

a. Calculate the cost of goods manufactured for the year by Gopaul Electronics

b.) Prepare an income statement for Gopaul Electronics for the year ended December 31, 2023, clearly showing the calculation of Cost of Goods Sold. List the non-production overheads in order of size starting with the largest.

c) What is the selling price per switch if Gopaul Electronics manufactured 1,500 switches for the period under review and uses a mark-up of 33⅓% on cost?

=
+
Parap Group Devel
C Ⓒ File | C:/Users/USER/Downloads/Assignment %20%231%20_%20Individual%20Assignment.pdf
V
I
Draw
Type here to search
PDF A X
(T)
the im
Read aloud Ask Copilot
Inventory
1/1/2023 31/12/2023
Raw Materials
$260,000 $230,000
Work In Progress $333,800 $218,800
Finished Goods $1,075,200 $615,000
Other information:
from
Sales Revenue
Factory supplies
Direct Factory Labor
Special Design Cost
Raw Materials Purchased
Plant janitorial service
Depreciation: Plant & Equipment
Plant Utilities
Plant supervisor's salary
1
Property Taxes ¹
R & D for Graphic Designs
Office Utilities
DevelQ online
Devel
Insurance on Plant & Equipment
Delivery truck driver's wages
Depreciation: Delivery truck
Administrative Wages & Salaries
Sales Commission
+
2
$5,765,000
45,000
735,000
15,000
540,000
52,000
165,000
385,000
480,000
300,000
70,500
165,000
120,000
125,000
52,000
850,150
97,650
¹ The property taxes should be shared: 60% manufacturing & 40% general & administrative costs.
J
Full ar Qhas th
of 5 CD
O
CR Faceb
NEW
Haras a
letter a letter +
()
QI
28°C
[+]
I
60
Ca
383
|
2
9:46 PM
2/20/2024

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What is the selling price per switch if gopaul electronics manufactured 1,500 switches for the period under review and uses a markup of 33 1/3% on cost?

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