(CGM; CGS) Flex Em began business in July 2010. The firm makes an exercise machine for home and gym use. Following are data taken from the firm’s accounting records that pertain to its first month of operations.
| Direct material purchased on account Don't use plagiarized sources. Get Your Custom Essay on prepare a schedule of cost of goods manufactured for july 2010 641246 Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! | $ 900,000 |
| Direct material issued to production | 377,000 |
| Direct labor payroll accrued | 126,800 |
| Indirect labor payroll paid | 40,600 |
| Factory insurance expired | 6,000 |
| Factory utilities paid | 17,800 |
| Factory depreciation recorded | 230,300 |
| Ending Work in Process Inventory | 51,000 |
| Ending Finished Goods Inventory (30 units) | 97,500 |
| Sales on account ($5,200 per unit) | 1,040,000 |
a. How many units did the company sell in July 2010?
b. Prepare a schedule of cost of goods manufactured for July 2010.
c. How many units were completed in July?
d. What was the per unit cost of goods manufactured for the month?
e. What was the cost of goods sold in the first month of operations?
f. What was the gross margin for July 2010?
LDR 3302-21.01.01-1A24-S1, Organizational Theory and Behavior Unit III Essay Top of Form Bottom of Form…
Chapter 9 What are teratogens? Give 5 examples. Define each of these stages: Germinal, embryonic,…
You are a Financial Analyst that has been appointed to lead a team in the…
You are familiar with the ANA Code of Ethics and have a growing understanding of…
This week’s discussion will focus on management decision-making and control in two companies, American corporation…
Mary Rowlandson felt that the man who eventually came to own her, Quinnapin, was “the…