Records of Younas Fans show the following information for the first quarter of the year 2006: Direct material purchased 1,946,700 Direct labor 2,125,800 Factory overhead (40% variable and 60% fixed) 764,000 Marketing expenses (80% fixed) 516,000 Administrative expense (100% Fixed) 461,000 Sales (12,400 Fans) 6,634,000 Other factory expense 29,000 Inventory opening Finished goods (100 fans) 43,000 Direct material 268,000 Inventory closing Finished goods (200 fans) not known Direct material 167,000 There was no opening and closing work in process inventory. Required: 1. Number of units manufactured during the quarter 2. Cost of goods manufactured statement for the quarter 3. Value of closing finished goods inventory 4. Income statement for the quarter 5. Gross profit per unit 6. Net profit per unit 6. Gross profit to sales ratio 7. Cost of goods sold to sales ratio 8. Fixed production cost per unit 9. Variable production cost per unit 10. Fixed expenses per unit sold 11. Variable expenses per unit sold
Records of Younas Fans show the following information for the first quarter of the year 2006:
Direct material purchased 1,946,700
Direct labor 2,125,800
Factory
Marketing expenses (80% fixed) 516,000
Administrative expense (100% Fixed) 461,000
Sales (12,400 Fans) 6,634,000
Other factory expense 29,000
Inventory opening
Finished goods (100 fans) 43,000
Direct material 268,000
Inventory closing
Finished goods (200 fans) not known
Direct material 167,000
There was no opening and closing work in process inventory.
Required:
1. Number of units manufactured during the quarter
2. Cost of goods manufactured statement for the quarter
3. Value of closing finished goods inventory
4. Income statement for the quarter
5. Gross profit per unit
6. Net profit per unit
6. Gross profit to sales ratio
7. Cost of goods sold to sales ratio
8. Fixed production cost per unit
9. Variable production cost per unit
10. Fixed expenses per unit sold
11. Variable expenses per unit sold
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