Chapter 16, E 16-17 Chapter 16, P 16-25a Chapter 17, P 17-26a Chapter 17, P 17a-11a

Only available on StudyMode
  • Download(s) : 134
  • Published : November 25, 2012
Open Document
Text Preview
Week Three
E16-17

Req. 1
Fido Grooming|
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|
Total Operating Expense| 7,280.00|
| |
Income for April| 16,300.00|
Net Operating Income = Income – Operating ExpenseNOI= 16,300.00 – 7280.00NOI = 9,020.00| |

Req. 2
Unit Cost Per Service = Total Service Cost/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 Treats|
Schedule of Cost of Goods Manufactured|
Year Ended December 31, 2012|
Beginning Work in Process Inventory| | 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| | |
Ending Direct Materials Inventory| 2,000.00| | |
Direct Materials Used| | 31,000.00| |
Direct Labor| | 22,000.00| |
Manufacturing Overhead:| | | |
Indirect 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|
Sales Revenue| | 109,000.00|
Less: Sales Returns and Allowances| -| |
Less: Sales Discounts| -| |
| | -|
Net Sales Revenue| | 109,000.00|
Cost 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| DATE 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| | 1,142.00| | 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| |...
tracking img