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Given the following selected account balances of Delray Mfg... 1- Prepare its schedule for the cost of goods manufactured for the current year, which ended December 31. These costs were needed to produce 1000 units. 2- Prepare its income statement 3- Calculate its prime cost 4- Calculate its conversion cost 5- The company can outsource this good at a unitary price of $530. Would it be better to produce by itself? Comment your results. Sales $1,250,000 Raw materials inventory, beginning 37,000 Work in process inventory, beginning 53,900 Finished goods inventory, beginning 62,750 Raw materials purchases 175,600 Direct labor 225,000 Indirect labor 47,000 Repairs Factory equipment 23,090 Rent cost of factory building 57,000 Selling expenses 94,000 General and administrative expenses 129,300 Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending 42,700 41,500 67,300

Given the following selected account balances of Delray Mfg... 1- Prepare its schedule for the cost of goods manufactured for the current year, which ended December 31. These costs were needed to produce 1000 units. 2- Prepare its income statement 3- Calculate its prime cost 4- Calculate its conversion cost 5- The company can outsource this good at a unitary price of $530. Would it be better to produce by itself? Comment your results. Sales $1,250,000 Raw materials inventory, beginning 37,000 Work in process inventory, beginning 53,900 Finished goods inventory, beginning 62,750 Raw materials purchases 175,600 Direct labor 225,000 Indirect labor 47,000 Repairs Factory equipment 23,090 Rent cost of factory building 57,000 Selling expenses 94,000 General and administrative expenses 129,300 Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending 42,700 41,500 67,300

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter2: Basic Managerial Accounting Concepts
Section: Chapter Questions
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Given the following selected account balances of Delray Mfg... 1- Prepare its schedule for the cost of goods manufactured for the current year, which ended December 31. These costs were needed to produce 1000 units. 2- Prepare its income statement 3- Calculate its prime cost 4- Calculate its conversion cost 5- The company can outsource this good at a unitary price of $530. Would it be better to produce by itself? Comment your results. Sales $1,250,000 Raw materials inventory, beginning 37,000 Work in process inventory, beginning 53,900 Finished goods inventory, beginning 62,750 Raw materials purchases 175,600 Direct labor 225,000 Indirect labor 47,000 Repairs Factory equipment 23,090 Rent cost of factory building 57,000 Selling expenses 94,000 General and administrative expenses 129,300 Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending 42,700 41,500 67,300
Transcribed Image Text:Given the following selected account balances of Delray Mfg... 1- Prepare its schedule for the cost of goods manufactured for the current year, which ended December 31. These costs were needed to produce 1000 units. 2- Prepare its income statement 3- Calculate its prime cost 4- Calculate its conversion cost 5- The company can outsource this good at a unitary price of $530. Would it be better to produce by itself? Comment your results. Sales $1,250,000 Raw materials inventory, beginning 37,000 Work in process inventory, beginning 53,900 Finished goods inventory, beginning 62,750 Raw materials purchases 175,600 Direct labor 225,000 Indirect labor 47,000 Repairs Factory equipment 23,090 Rent cost of factory building 57,000 Selling expenses 94,000 General and administrative expenses 129,300 Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending 42,700 41,500 67,300
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