The accounting records of NuTronics, Inc., include the following information for the year ended December 31. Dec. 31 $ 24,000 8,000 90,000 210,000 131,000 Inventory of materials. Inventory of work in process Inventory of finished goods Direct materials used Direct labor Selling expenses General and administrative expenses Overhead assigned to production was $192,000. a. Prepare a schedule of the cost of finished goods manufactured. (Not all of the data given above are used in this schedule.) b. Assume that the company manufactures a single product and that 20,000 units were completed during the year. What is the average per-unit cost of manufacturing this product? Required A Required B Complete this question by entering your answers in the tabs below. 170,000 140,000 Work in process, January 1 Manufacturing costs assigned to production: Direct materials used Direct labor Jan. 1 $ 20,000 12,000 80,000 Prepare a schedule of the cost of finished goods manufactured. (Not all of the data given above are used in this schedule.) Nu Tronics, Inc. Schedule of the Cost of Finished Goods Manufactured For the Year Ended December 31 Total manufacturing costs Total cost of all goods in process during the year Cost of finished goods manufactured $ $ 0 0 0
The accounting records of NuTronics, Inc., include the following information for the year ended December 31. Dec. 31 $ 24,000 8,000 90,000 210,000 131,000 Inventory of materials. Inventory of work in process Inventory of finished goods Direct materials used Direct labor Selling expenses General and administrative expenses Overhead assigned to production was $192,000. a. Prepare a schedule of the cost of finished goods manufactured. (Not all of the data given above are used in this schedule.) b. Assume that the company manufactures a single product and that 20,000 units were completed during the year. What is the average per-unit cost of manufacturing this product? Required A Required B Complete this question by entering your answers in the tabs below. 170,000 140,000 Work in process, January 1 Manufacturing costs assigned to production: Direct materials used Direct labor Jan. 1 $ 20,000 12,000 80,000 Prepare a schedule of the cost of finished goods manufactured. (Not all of the data given above are used in this schedule.) Nu Tronics, Inc. Schedule of the Cost of Finished Goods Manufactured For the Year Ended December 31 Total manufacturing costs Total cost of all goods in process during the year Cost of finished goods manufactured $ $ 0 0 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The accounting records of NuTronics, Inc., include the following information for the year ended December 31.
Dec. 31
$ 24,000
8,000
90,000
210,000
131,000
170,000
140,000
Inventory of materials
Inventory of work in process
Inventory of finished goods
Direct materials used
Direct labor
Selling expenses
General and administrative expenses
Overhead assigned to production was $192,000.
a. Prepare a schedule of the cost of finished goods manufactured. (Not all of the data given above are used in this schedule.)
b. Assume that the company manufactures a single product and that 20,000 units were completed during the year. What is the
average per-unit cost of manufacturing this product?
Complete this question by entering your answers in the tabs below.
Required A Required B
Jan. 1
$ 20,000
12,000
80,000
Prepare a schedule of the cost of finished goods manufactured. (Not all of the data given above are used in this schedule.)
Nu Tronics, Inc.
Schedule of the Cost of Finished Goods Manufactured
For the Year Ended December 31
Work in process, January 1
Manufacturing costs assigned to production:
Direct materials used
Direct labor
Total manufacturing costs
Total cost of all goods in process during the year
Cost of finished goods manufactured
$
$
0
0
0
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