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Question 1. Question : (TCO A) The following data (in thousands of
dollars) have been taken from the accounting records of Larden
Corporation for the just-completed year.
Sales $950
Purchases of raw materials $170
Direct labor $225
Manufacturing overhead $220
Administrative expenses $180
Selling expenses $140
Raw materials inventory, beginning $90
Raw materials inventory, ending $80
Work-in-process inventory, beginning $30
Work-in-process inventory, ending $20
Finished goods inventory, beginning $100
Finished goods inventory, ending $70
Prepare a Schedule of Cost of Goods Manufactured statement in the text
box below.
Question 2. Question : (TCO B) The Florida Company manufactures a
product that goes through three processing departments. Information
relating to activity in the first department during June is given below.
Percentage Completed
Question 3. Question : (TCO C) Drake Company's income statement
for the most recent year appears below.
Sales (45,000 units) $1,350,000
Less: variable expenses 750,000
Contribution margin 600,000
Less: fixed expenses 375,000
Net operating income $225,000
Question 4. Question : (TCO D) The Hampton Company produces and
sells a single product. The following data refer to the year just completed.
Selling price $450
Units in beginning inventory 0
Units produced 25,000
Units sold 22,000