Brighter Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The are available for the year 2017. E (Click the icon to view the information.) Calculate (1) the cost of goods sold budget (label it Schedule 7) (2) the nonmanufacturing c it Schedule 8) and (3) the operating income budget for the year ending December 31, 2017. (1). Begin by calculating (1) the cost of goods sold budget (label it Schedule 7) for the year ending December 31, 2017. Schedule 7: Cost of Goods Sold Budget for the Year Ending December 31, 2017 Data Table Revenues %24 1,039,400 Beginning inventory of finished goods (1-1-2017) 88,440 Ending inventory of finished goods, 12-31-2017 66,780 Direct materials used 417,000 Direct manufacturing labor 120,900 Manufacturing overhead 137,450 Variable marketing costs (5% of revenues) Fixed marketing costs 45,000 Variable distribution costs ($0.50 per cu. ft. for 28,000 cu. ft.) Fixed distribution costs 47,000 Fixed administration costs 78,000 Print Done
Brighter Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The are available for the year 2017. E (Click the icon to view the information.) Calculate (1) the cost of goods sold budget (label it Schedule 7) (2) the nonmanufacturing c it Schedule 8) and (3) the operating income budget for the year ending December 31, 2017. (1). Begin by calculating (1) the cost of goods sold budget (label it Schedule 7) for the year ending December 31, 2017. Schedule 7: Cost of Goods Sold Budget for the Year Ending December 31, 2017 Data Table Revenues %24 1,039,400 Beginning inventory of finished goods (1-1-2017) 88,440 Ending inventory of finished goods, 12-31-2017 66,780 Direct materials used 417,000 Direct manufacturing labor 120,900 Manufacturing overhead 137,450 Variable marketing costs (5% of revenues) Fixed marketing costs 45,000 Variable distribution costs ($0.50 per cu. ft. for 28,000 cu. ft.) Fixed distribution costs 47,000 Fixed administration costs 78,000 Print Done
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:Brighter Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The
are available for the year 2017.
E (Click the icon to view the information.)
Calculate (1) the cost of goods sold budget (label it Schedule 7) (2) the nonmanufacturing c
it Schedule 8) and (3) the operating income budget for the year ending December 31, 2017.
(1). Begin by calculating (1) the cost of goods sold budget (label it Schedule 7) for the year ending December 31, 2017.
Schedule 7: Cost of Goods Sold Budget
for the Year Ending December 31, 2017
Data Table
Revenues
%24
1,039,400
Beginning inventory of finished goods (1-1-2017)
88,440
Ending inventory of finished goods, 12-31-2017
66,780
Direct materials used
417,000
Direct manufacturing labor
120,900
Manufacturing overhead
137,450
Variable marketing costs (5% of revenues)
Fixed marketing costs
45,000
Variable distribution costs ($0.50 per cu. ft. for 28,000 cu. ft.)
Fixed distribution costs
47,000
Fixed administration costs
78,000
Print
Done
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