Devry ACCT 301 Week 4 Homework Latest

Description

Devry ACCT 301 Week 4 Homework Latest

Week 4

Problem 1

Required: Use the following information to complete the below schedule of cost of goods manufactured.

(25 points)

Purchases of raw materials $1,20,000.00

Raw materials available for use $1,48,000.00

Cost of direct raw materials used $1,24,000.00

Manufacturing overhead $24,000.00

Total manufacturing costs $3,10,000.00

Ending work-in-process inventory $(46,000.00)

Cost of goods manufactured $3,06,000.00

Schedule of Cost of Goods Manufactured

Beginning inventory, raw materials

Plus: Purchases of raw materials

Raw materials available for use $-

Less: Ending raw materials inventory

Cost of direct raw materials used $-

Direct labor

Manufacturing overhead

Total manufacturing costs $-

Plus: Beginning work-in-process inventory

Total work in process $-

Less: Ending work-in-process inventory

Cost of goods manufactured $-

Problem 2

Required: JZ is a musician who is considering whether to independently produce and sell a CD. JZ estimates fixed costs of $10,000 and variable costs of $4.00 per unit. The expected selling price is $12 per CD. What is JZ’s break-even point in units and dollars?

(25 points)

Break-even point in units Fixed Costs

Contribution margin per unit

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Devry ACCT 301 Week 4 Homework Latest