RockLand is a private corporation formed for the purpose of providing products cleaning products. They have decided to extend sales to the Caribbean. Their sales focus is on superior products and customer service. The Production Manager is on sick leave and recommended you, to prepare a report to the Board of Director on the performance of the department for the fiscal year. The following data was placed on your desk. The data is provided for April 2020 - March 2021: Raw materials inventory, April 1, 2020 Raw materials inventory, March 31, 2021 Work in process, April 1, 2020 Work in process, March 31, 2021 Finished goods, April 1, 2020 1st April 2020 31st March 2021 $ 1,125,000 Finished goods, March 31, 2021 Raw materials purchases 45% of beg. Inventory Direct labor Manufacturing Overheads 90,000 156,000 550,000 325,000 Required: a. Compute the Cost of Direct Materials Used during April 2020 to March 2021 b. Compute the Cost of Goods Manufactured c. Compute the Cost of Goods Sold 30,000 22,000 90,000

RockLand is a private corporation formed for the purpose of providing products cleaning products. They have decided to extend sales to the Caribbean. Their sales focus is on superior products and customer service. The Production Manager is on sick leave and recommended you, to prepare a report to the Board of Director on the performance of the department for the fiscal year. The following data was placed on your desk. The data is provided for April 2020 - March 2021: Raw materials inventory, April 1, 2020 Raw materials inventory, March 31, 2021 Work in process, April 1, 2020 Work in process, March 31, 2021 Finished goods, April 1, 2020 1st April 2020 31st March 2021 $ 1,125,000 Finished goods, March 31, 2021 Raw materials purchases 45% of beg. Inventory Direct labor Manufacturing Overheads 90,000 156,000 550,000 325,000 Required: a. Compute the Cost of Direct Materials Used during April 2020 to March 2021 b. Compute the Cost of Goods Manufactured c. Compute the Cost of Goods Sold 30,000 22,000 90,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter7: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 64P: Suppose that Kicker had the following sales and cost experience (in thousands of dollars) for May of...

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