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Jordan Inc. makes a smartphone case that includes a battery that extends the operating life of...

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Accounting

Jordan Inc. makes a smartphone case that includes a battery thatextends the operating life of an iPhone. The manufacturing costsper unit include $14 direct materials, $16 direct labor and $8manufacturing overhead. These costs are based on a production andsales volume of 4,000 units. Advertising costs amounted to $24,000.Research and development cost for the materials used in the phonecases amounted $27,000. Companywide administrative costs amountedto $44,000. Fashion design costs amounted to $29,000. Jordan’smanagement team established the sales price at 150 percent ofGAAP-defined product cost.

Required

  1. Determine the total amount of upstream costs.

  2. Determine the total amount of downstream cost.

  3. Determine the total amount of midstream cost.

  4. Determine the sales price per unit.

  5. Prepare a GAAP-based income statement.

Answer & Explanation Solved by verified expert
3.7 Ratings (641 Votes)
a Upstream costs 56000 b Downstream costs 68000 c Midstream costs 152000 d Sales price per unit 57 Working a Upstream cost Research and development cost 27000 Fashion design costs 29000 Total    See Answer
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