90.2K

Verified Solution

Link Copied!

(see image attached)

1. What is the amount of gross profit in Case 1?

a. 3,500

b. 4,200

c. 6,300

d. 3,400

2. What is the amount of cost of goods sold for Case 1?

a. 13,800

b. 14,200

c. 18,600

d. 16,600

Incorrect photo, here is the updated version...

P15-1A Ohno Company specializes in manufacturing a unique model of bicycle helmet. The model is well accepted by consumers, and the company has enough orders to keep the factory production at 10,000 helmets per month (80% of its full capacity). Ohno's monthly manufacturing cost and other expense data are as follows. $11,000 1,500 75,000 900 Rent on factory equipment Insurance on factory building Raw materials (plastics, polystyrene, etc.) Utility costs for factory Supplies for general office Wages for assembly line workers Depreciation on office equipment Miscellaneous materials (glue, thread, etc.) Factory manager's salary Property taxes on factory building Advertising for helmets Sales commissions 300 58,000 800 1,100 5,700 400 14,000 10,000 1,500 22 boos Depreciation on factory building P15-3A Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Ind of d pre of s sch Case 1 2 sta $ (g) 8,000 4,000 16,000 (h) 3,000 (i) 1,400 24,000 3,300 (j) (k) 2,500 7,000 (1) 5,000 Direct materials used Direct labor $ 9,600 5,000 8,000 (a) 1,000 (b) 24,500 2,500 17,000 (c) 22,000 (d) 3,400 (e) 2,500 (f) ba (LC Manufacturing overhead Total manufacturing costs Beginning work in Ending work in process inventory Sales revenue Sales discounts process inventory Cost of goods manufactured Beginning finished goods inventory Goods available for sale Cost of goods sold Ending finished goods inventory Gross profit Operating expenses Net income

Answer & Explanation Solved by verified expert

See Answer