The accounting records of NuTronics, Inc., include the following information for
ID: 2363800 • Letter: T
Question
The accounting records of NuTronics, Inc., include the following information for the year ended December 31, 2011.
Prepare a schedule of the cost of finished goods manufactured. (Not all of the data given above are used in this schedule.) (Input all amount as positive values. Omit the "$" sign in your response.)
Assume that the company manufactures a single product and that 20,000 units were completed during the year. What is the average per-unit cost of manufacturing this product? (Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Dec. 31 Jan. 1 Inventory of materials $ 24,000 $ 20,000 Inventory of work in process 8,000 12,000 Inventory of finished goods 90,000 80,000 Direct materials used 219,000 Direct labor 107,000 Selling expenses 170,000 General and administrative expenses 140,000Explanation / Answer
NuTronics, Inc.
Schedule of the Cost of Finished Goods Manufactured
For the Year Ended December 31, 2007
Work in process, January 1, 2007 ………………………………….
$12,000
Manufacturing costs assigned to production:
Direct materials used ………………………………..
$210,000
Direct labor ………………………………….
120,000
Manufacturing overhead ……………………….
192,000
Total manufacturing costs ………………………………….
522,000
Total cost of all goods in process during the year ………………………..
$534,000
Less: Work in process inventory, December 31, 2007 …………………….
8,000
Cost of finished goods manufactured …………………………………………..
$526,000
b. $26.30 per unit ($526,000 cost of finished goods manufactured, divided by 20,000 units)
NuTronics, Inc.
Schedule of the Cost of Finished Goods Manufactured
For the Year Ended December 31, 2007
Work in process, January 1, 2007 ………………………………….
$12,000
Manufacturing costs assigned to production:
Direct materials used ………………………………..
$210,000
Direct labor ………………………………….
120,000
Manufacturing overhead ……………………….
192,000
Total manufacturing costs ………………………………….
522,000
Total cost of all goods in process during the year ………………………..
$534,000
Less: Work in process inventory, December 31, 2007 …………………….
8,000
Cost of finished goods manufactured …………………………………………..
$526,000
b. $26.30 per unit ($526,000 cost of finished goods manufactured, divided by 20,000 units)
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.