PR16-5B Determine the amount of the missing items, identifying them by letter. P

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PR16-5B

Determine the amount of the missing items, identifying them by letter. Prepare a statement of cost of goods manufactured for Margo Company. Prepare an income statement for Margo Company. PR 16-5B Statement of cost of goods manufactured and income statement for a manufacturing company The following information is available for Yu Company for 2012: Prepare the 2012 statement of cost of goods manufactured. Prepare the 2012 income statement. Last years, Hever Inc, had sales of $500,000, based on a unit variable cost per unit was $175, and fixed costs were $75,000. Hever Inc.'s relevant range are 2,500 units. Hever Inc. is consist an additional $33,750 on billboard advertising during the increased sales and utilize unused capacity.

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Direct ,materials used - Beginning raw material 47,000 Add: Purchases 76,000 Less: Ending 58,500 Direct ,materials used - 64,500 Direct labor 115,000 Manufacturing overhead Depreciation - Factory equipment 9,000 Heat, light amd power 3,600 Indirect labor 14,400 Property taxes - factory 2,500 Rent expense 4,000 Supplies - factory 3,000 Miscellaneous - factory 2,000 Total manufacturing overhead 38,500 Total manufacturing costs 218,000 Add: Beginning work in progres 67,000 Less: Ending work in progress 59,000 Cost of goods manufactured 226,000

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