please answer all parts of the questions within 30 minutes.make sure you answer all the parts else i will give negative ratings. Next questionSan Diego Office Equipment manufactures and sels metal shelving It began operations on January 1, 2017.M (Click the loon to view the costs incured during 2017.)M (Click the lcon to view the inventory data)Revenues in 2017 were $550,000. The selling price per unit and the purchase price per pound of direct materials were stable throughout the year. The company's ending inventory of finishedgoods is carried at the average unit manufacturing cost for 2017. Finished-goods inventory at December 31, 2017, was $26,000.Read the requirementsRequirement 1. Calculate direct materials inventory, total cost, December 31, 2017.Delermine the formula, then calculate ending direct materials total cost.Ending direct materials total cost - XX he company's ending inventory of finishedelling prufacturinData tableInventory data are as follows:Beginning:Ending:January 1, 2017December 31, 2017als inventOlb1,800 IbsDirect materialsnding direO unitsO unitsWork in processO units7 unitsFinished goodsProduction in 2017 was 123,000 units. Two pounds of direct materials areused to make one unit of finished product.PrintDoneCosts incurred for 2017 are as follows (V stands for variable; F stands forfixed):Direct materials used$147,600 VDirect manufacturing labor costs$36,400 V$2,000 VPlant energy costs$17,000 VIndirect manufacturing labor costser$15,000 FIndirect manufacturing labor costs$10,000 VOther indirect manufacturing costs$18,000 FOther indirect manufacturing costs$126,000 VMarketing, distribution, and customer-service costs$41,000 FMarketing, distribution, and customer-service costs$58,000 FAdministrative costsVariable manufacturing costs are variable with respect to units produced.Variable marketing, distribution, and customer-service costs are variable withrespect to units soldturing cost for 2017. Finished-goods inventory at December 31, 2017, wäs $26,000.- XRequirements1.Calculate direct materials inventory, total cost, December 31, 2017.2.Calculate finished-goods inventory, total units, December 31, 2017.3.Calculate selling price in 2017.4.Calculate operating income for 2017.PrintDone

The cost of goods manufactured includes the total costs incurred in manufacturing the goods. The…

Revenues in 2017 were $550,000 The selling price per unit and the purchase price per pound of direct materials were stable throughout the year The company's ending inventory of finished goods is carried at the average unit manufacturing cost for 2017. Finished-goods inventory at Decenber 31, 2017, was $26,000 Read the requirements

Revenues in 2017 were $550,000 The selling price per unit and the purchase price per pound of direct materials were stable throughout the year The company's ending inventory of finished goods is carried at the average unit manufacturing cost for 2017. Finished-goods inventory at Decenber 31, 2017, was $26,000 Read the requirements

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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You are not ready to open a brick-and-mortar bakery but you think you can handle catering. You have received your first 4 orders. Use the following schedule to determine how much of each raw material you need to use for each dozen cupcakes. It takes you 60 minutes to mix, bake, cool, and ice two dozen cupcakes and you pay yourself $15 per hour. You can only cook two dozen cupcakes at one time. You have also determined that your overhead per dozen is $2.75. You charge $17.00 for each dozen. Selling Price per Material Unit size Pounds per dozen Cost per pound $17 Dozen Cupcakes Flour pound pound 0.5 2.50 Butter 0.25 1.00 Sugar pound 0.5 2.00 Eggs dozen 0.17 2.00 gallon gallon pound pound Milk 0.1 0.1 3.00 Vanilla 0.25 6.00 Cocoa Powder 0.25 4.00 Vanilla Icing Chocolate Icing 0.75 1.50 pound 0.75 1.50 Bakery box each 1 0.50 Job #1 Job #2 Job #3 Job #4 Four dozen chocolate cupcakes with chocolate icing One dozen vanilla cupcakes with chocolate icing Three dozen chocolate cupcakes with…
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