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Maryville Inc. incurred the following costs during August: Raw materials used Direct labor Manufacturing overhead, actual Selling expenses Administrative expenses Interest expense a During the month, 5,900 units of product were manufactured and 3,600 units of product were sold. On August 1, Maryville carried no inventories. On August 31, there were no inventories other than finished goods. Required: Calculate the cost of goods manufactured during August and the average cost per unit of product manufactured. Calculate the cost of goods sold during August. Calculate the difference between cost of goods manufactured and cost of goods sold. How will this amount be reported in the financial statements? b. $ 39,300 68,000 46,100 29,330 15,070 10,000 Prepare a traditional (absorption) income statement for Maryville for the month of August. Assume that sales for the month were $217,231 and the company's effective income tax rate was 35%. Req A and B Complete this question by entering your answers in the tabs below. Req C a. Calculate the cost of goods manufactured during August and the average cost per unit of product manufactured. b. Calculate the cost of goods sold during August. (Do not round intermediate calculations.) Req D Cost of goods manufactured Average cost per unit Cost of goods sold < Req A and B Req C >

Maryville Inc. incurred the following costs during August: Raw materials used Direct labor Manufacturing overhead, actual Selling expenses Administrative expenses Interest expense a During the month, 5,900 units of product were manufactured and 3,600 units of product were sold. On August 1, Maryville carried no inventories. On August 31, there were no inventories other than finished goods. Required: Calculate the cost of goods manufactured during August and the average cost per unit of product manufactured. Calculate the cost of goods sold during August. Calculate the difference between cost of goods manufactured and cost of goods sold. How will this amount be reported in the financial statements? b. $ 39,300 68,000 46,100 29,330 15,070 10,000 Prepare a traditional (absorption) income statement for Maryville for the month of August. Assume that sales for the month were $217,231 and the company's effective income tax rate was 35%. Req A and B Complete this question by entering your answers in the tabs below. Req C a. Calculate the cost of goods manufactured during August and the average cost per unit of product manufactured. b. Calculate the cost of goods sold during August. (Do not round intermediate calculations.) Req D Cost of goods manufactured Average cost per unit Cost of goods sold < Req A and B Req C >

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 13E: Wyandotte Company provided the following information for the last calendar year: During the year,...
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Maryville Inc. incurred the following costs during August: Raw materials used Direct labor Manufacturing overhead, actual Selling expenses Administrative expenses Interest expense a During the month, 5,900 units of product were manufactured and 3,600 units of product were sold. On August 1, Maryville carried no inventories. On August 31, there were no inventories other than finished goods. Required: Calculate the cost of goods manufactured during August and the average cost per unit of product manufactured. Calculate the cost of goods sold during August. Calculate the difference between cost of goods manufactured and cost of goods sold. How will this amount be reported in the financial statements? b. $ 39,300 68,000 46,100 29,330 15,070 10,000 Prepare a traditional (absorption) income statement for Maryville for the month of August. Assume that sales for the month were $217,231 and the company's effective income tax rate was 35%. Req A and B Complete this question by entering your answers in the tabs below. Req C a. Calculate the cost of goods manufactured during August and the average cost per unit of product manufactured. b. Calculate the cost of goods sold during August. (Do not round intermediate calculations.) Req D Cost of goods manufactured Average cost per unit Cost of goods sold < Req A and B Req C >
Transcribed Image Text:Maryville Inc. incurred the following costs during August: Raw materials used Direct labor Manufacturing overhead, actual Selling expenses Administrative expenses Interest expense a During the month, 5,900 units of product were manufactured and 3,600 units of product were sold. On August 1, Maryville carried no inventories. On August 31, there were no inventories other than finished goods. Required: Calculate the cost of goods manufactured during August and the average cost per unit of product manufactured. Calculate the cost of goods sold during August. Calculate the difference between cost of goods manufactured and cost of goods sold. How will this amount be reported in the financial statements? b. $ 39,300 68,000 46,100 29,330 15,070 10,000 Prepare a traditional (absorption) income statement for Maryville for the month of August. Assume that sales for the month were $217,231 and the company's effective income tax rate was 35%. Req A and B Complete this question by entering your answers in the tabs below. Req C a. Calculate the cost of goods manufactured during August and the average cost per unit of product manufactured. b. Calculate the cost of goods sold during August. (Do not round intermediate calculations.) Req D Cost of goods manufactured Average cost per unit Cost of goods sold < Req A and B Req C >
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