Your friend has come to you and asked you to help him calculate some figures...
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Accounting
Your friend has come to you and asked you to help him calculate some figures and make some financial statements. He also wants you to answer some managerial questions. Use the information below to answer the questions below:
Sales Price Per Chair $17.00 Sales Price Per Table $55.00
Variable Product Cost Per Chair $15.34
Fixed Product Cost Per Chair $0.66
Variable Product Cost Per Table $43.62
Fixed Product Cost Per Table $1.09
Chairs Manufactured This Period 104,000
Tables Manufactured This Period 80,000
Beginning Finished Goods Chairs Inventory 5000
Beginning Finished Goods Tables Inventory 6000
Ending Finished Goods Chairs Inventory 4,000
Ending Finished Goods Tables Inventory 3,000
Using what you read in the Information section, please calculate the following amounts, create the following Financial Statements, and answer the following questions:
1) Calculate Cost of Goods Sold in Dollars for Chairs
2) Calculate Cost of Goods Sold in Dollars for Tables
3) Prepare a Contribution Margin Income Statement for Chairs
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