following mation applies to th shons displayeO below The following selected information was extracted from the 20x1 accounting records of Lone Oak Products: Raw naterial purchases Direct labor Indirect labor Selling and administrative salaries Building depreciation Other selling and administrative expenses Other factory costs Sales revenue (S1 30 per unit) $ 175,000 255,000 109,000 133,000 se,000 195,000 342,000 1,495, 00 "Seventy-tive percent of the company's bulldling was devoteci to production activitles; the remaining 25 percent was used for selling and administrative functions.
following mation applies to th shons displayeO below The following selected information was extracted from the 20x1 accounting records of Lone Oak Products: Raw naterial purchases Direct labor Indirect labor Selling and administrative salaries Building depreciation Other selling and administrative expenses Other factory costs Sales revenue (S1 30 per unit) $ 175,000 255,000 109,000 133,000 se,000 195,000 342,000 1,495, 00 "Seventy-tive percent of the company's bulldling was devoteci to production activitles; the remaining 25 percent was used for selling and administrative functions.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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please answer if you know , give correct answer
![[The following information applies to the questions displayed below]
The following selected information was extracted from the 20x1 accounting records of Lone Oak Products:
$ 175,000
255,000
109,000
133,000
s0,000
195,000
342,000
1,495,000
Raw material purchases
Direct labor
Indirect labor
Selling and administrative salaries
Building depreciation
Other selling and administrative expenses
Other factory costs
Sales revenue ($130 per unit)
"Seventy-five percent of the company's building was devoteci to production activities; the remaining 25 percent was used
for selling and administratlve functions.
Inventory data:
January 1
$ 16,800
35,988
Decenber 31
$18, 200
62,100
97,900
Raw material
Nork in process
Finished goods
113,10a
"The January 1 and December 31 finished-goods Inventory consisted of 1,350 units and 1,190 units, respectively.
5. Determine the number of completed units manufectured during the year.
Number of completed units
511,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe4f799a7-9bf5-4343-828e-d8505471c226%2Fc174a99d-b006-479c-b52a-88c8e8d3be82%2Fmu9mir_processed.png&w=3840&q=75)
Transcribed Image Text:[The following information applies to the questions displayed below]
The following selected information was extracted from the 20x1 accounting records of Lone Oak Products:
$ 175,000
255,000
109,000
133,000
s0,000
195,000
342,000
1,495,000
Raw material purchases
Direct labor
Indirect labor
Selling and administrative salaries
Building depreciation
Other selling and administrative expenses
Other factory costs
Sales revenue ($130 per unit)
"Seventy-five percent of the company's building was devoteci to production activities; the remaining 25 percent was used
for selling and administratlve functions.
Inventory data:
January 1
$ 16,800
35,988
Decenber 31
$18, 200
62,100
97,900
Raw material
Nork in process
Finished goods
113,10a
"The January 1 and December 31 finished-goods Inventory consisted of 1,350 units and 1,190 units, respectively.
5. Determine the number of completed units manufectured during the year.
Number of completed units
511,000
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