Chapter 16-17

Week Three E16-17 Req. 1 Fido formulation Income Statement Month of April Wages 3,900. 00 Grooming Supplies Expense 1,625. 00 Building Rent Expense 1,300. 00 Utilities 325. 00 Depreciation on Equipment 130. 00 inwardness Operating Expense 7,280. 00 Income for April 16,300. 00 Net Operating Income = Income Operating Expense no= 16,300. 00 7280. 00NOI = 9,020. 00 Req. 2 Unit terms Per Service = Total Service follow/Total Number of Services Provided UCPS = 7,280. 00 / 650 UCPS = 11. 20 Unit cost to groom one dog = $11. 20 P 16-25A Req. 1 Fido TreatsSchedule of Cost of Goods Manufactured Year cease December 31, 2012 low gear Work in mental transit inventorying 13,400. 00 Direct Materials Used Beginning Direct Materials Inventory - - Purchases of Direct Materials (Including Freight In) 33,000. 00 - Available for Use 33,000. 00 expiry Direct Materials Inventory 2,000. 00 Direct Materials Used 31,000. 00 Direct Labor 22,000. 00 Manufacturing Overhead verifi catory Materials 1,700. 00 Indirect Labor 800. 00 Depreciation Plant and Equipment - Plant Utilities, Insurance, and Property Taxes 1,600. 00 Total Manufacturing Overhead 4,100. 00 Total Manufacturing Costs Incurred During the Year 57,100. 00 Total Manufacturing Costs to Account For 70,500. 00 Ending Work in Process Inventory (2,000. 00) Costs of Goods Manufactured 68,500. 00 Req. 2 Fido Treats Income Statement Year Ended December 31, 2012 gross sales Revenue 109,000. 00 Less sales events Returns and Allowances - Less Sales Discounts - - Net Sales Revenue 109,000. 00Cost of Goods Sold Beginning Finished Goods Inventory - Cost of Goods Manufactured 68,500. 00 Cost of Goods Available for Sale 68,500. 00 Ending Finished Goods Inventory 5,300. 00 Cost of Goods Sold 82,600. 00 Gross Profit 26,400. 00 Operating Expense Wage Expense 5,000. 00 Rent Expense 13,000. 00 Hotline Expense 1,400. 00 Total Operating Expense 19,400. 00 Operating Income 7,000. 00 Net Income 7,000. 00 P 17-26A Req. 1 Job Cost Record JOB NO. 423CUSTOMER NAME Lu Technology, Co.JOB DESCRIPTION 5,900 DVDs project PROMISED 4-5 DATE STARTED 4-2 DATE COMPLETED 4-3 DATE DIRECT MATERIALS DIRECT LABOR MANUFACTURING OVERHEAD ALLOCATED REQUISITION NO. AMOUNT LABOR TIME RECORD NO. AMOUNT DATE RATE AMOUNT 4 2 64 341. 00 10 140. 00 4-3 125% Of Direct Labor Cost 500. 00 4 2 64 675. 00 4 3 74 126. 00 20 260. 00 Overall Cost Summary Direct materials 1,142. 00 Direct labor 400. 00 Manufacturing overhead allocated 500. 00 Totals 1,142. 0 400. 00 Total Job Cost 2,042. 00 Cost per DVD 0. 35 Req. 2 Journal Entry DATE ACCOUNTS AND EXPLANATIONS POST. REF. DEBIT CREDIT Apr 2 Materials Inventory Requisition 63 Polycarbonate Plastic 341. 00 Accounts payable 341. 00 2 Materials Inventory Requisition 64 Acrylic Plastic 675. 00 Accounts Payable 675. 00 3 Materials Inventory Requisition 74 Refined Aluminum 126. 00 Ac counts Payable 126. 00 Materials Inventory Movie File 2,950. 00 Accounts Payable 2,950. 00 Req. 3 Journal Entry DATE ACCOUNTS AND EXPLANATIONS POST. REF. DEBIT CREDIT Apr 3 Finished Goods Inventory 5,900. 00 Work In Process Inventory 5,900. 00 3 Accounts Receivable 7,670. 00 Sales Revenue 7,670. 00 3 Cost of Goods Sold 5,900. 00 Finished Goods Inventory 5,900. 00 P 17A-11A Req. 1 Compute the number of like units and the cost per equivalent unit in the Assembly Department for November. Amy Electronics * kindred Units Assembly Department * Month Ended November 30 * * * * Step 2 Equivalent Units * Whole Units * Direct Materials * Conversion Costs * * * * * * * * * * * * * * * * Req. 1 Amy Electronics Cost per Equivalent Unit Assembly Department Month Ended November 30 * * * * * * * * * * * * * * * * * * * Req. 2Assign total be in the Assembly Department t o (a) units completed and transferred to Programming during November and (b) units still in process at November 30. * Amy Electronics * Assignment of Cost Assembly Department * Month Ended November 30 * * * * * * * * * Req. 3 Prepare a T-account for Work in process inventoryAssembly to show its activity during November, including the November 30 balance. Work in process inventory- Assembly * * * * * * * * * * * * * * * *