Homework Help is Here – Start Your Trial Now!
Business
Accounting
a. Prepare a schedule of the cost of finished goods manufactured. (Not all of the data given above are used in this schedule) 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?

a. Prepare a schedule of the cost of finished goods manufactured. (Not all of the data given above are used in this schedule) 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?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

ACCT 102

The accounting records of NuTronics, Inc., include the following information for the year ended December 31. Dec. 31 Jan. 1 Inventory of materials Inventory of work in process Inventory of finished goods Direct materials used $ 24,000 8,000 90,000 210,000 120,000 170,000 140,000 $ 20,000 12,000 80,000 Direct labor Selling expenses General and administrative expenses Overhead assigned to production was $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) 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? Complete this question by entering your answers in the tabs below. Required A Required B Prepare a schedule of the cost of finished goods manufactured. (Not all of the data given above are used in this schedule.) NuTronics, Inc. Schedule of the Cost of Finished Goods Manufactured For the Year Ended December 31 Manufacturing costs assigned to production: Total manufacturing costs Total cost of all goods in process during the year $. Cost of finished goods manufactured 24 0.
Transcribed Image Text:The accounting records of NuTronics, Inc., include the following information for the year ended December 31. Dec. 31 Jan. 1 Inventory of materials Inventory of work in process Inventory of finished goods Direct materials used $ 24,000 8,000 90,000 210,000 120,000 170,000 140,000 $ 20,000 12,000 80,000 Direct labor Selling expenses General and administrative expenses Overhead assigned to production was $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) 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? Complete this question by entering your answers in the tabs below. Required A Required B Prepare a schedule of the cost of finished goods manufactured. (Not all of the data given above are used in this schedule.) NuTronics, Inc. Schedule of the Cost of Finished Goods Manufactured For the Year Ended December 31 Manufacturing costs assigned to production: Total manufacturing costs Total cost of all goods in process during the year $. Cost of finished goods manufactured 24 0.
Inventory of work in process Inventory of finished goods Direct materials used 8,000 90,000 210,000 120,000 170,000 12,000 80,000 Direct labor Selling expenses General and administrative expenses 140,000 Overhead assigned to production was $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.) 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? Complete this question by entering your answers in the tabs below. Required A Required 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.) Average cost per-unit < Required A Required B <.
Transcribed Image Text:Inventory of work in process Inventory of finished goods Direct materials used 8,000 90,000 210,000 120,000 170,000 12,000 80,000 Direct labor Selling expenses General and administrative expenses 140,000 Overhead assigned to production was $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.) 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? Complete this question by entering your answers in the tabs below. Required A Required 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.) Average cost per-unit < Required A Required B <.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting for Income Taxes
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS