Homework Help is Here – Start Your Trial Now!
Business
Accounting
Double Bubble Inc company is engaged into production of metal jewelry - «Gold» and «Silver»>. The data below is for running of business: 1. Management had decided with the sales for the upcoming period: Gold-2500 units per 920 $ and Silver-500 units per 980 S. 2. Expected inventory stock for the end of the: Gold-20% of the sales volume; Silver-10% of the sales volume. 3. Expected cost for materials: AA-35 $ per kg; BB-25 $ per kg; CC-10 $ per kg. 4. Consumption of materials per unit: Material 1) Silver 1 4 kg 1 1,5 5. Management considers the required stock of materials for the end of the period. AA - 12% of production need; BB-15% of production need; CC-10% of production need. 6. Average cost per 1 hour of preparatory operations-20 S, 1 hour of main operations -30 p$; 1 hour of completion operations - 10 S. 7. Required labor per unit: Operations 2) AA BB CC Preparatory Main No 1 Tools and applications 2 3 4 5 6 7 8 9 Measure Hours Hours Completion Hours 8. The company plans the following expenses: 1)general production, 2)administrative and selling: 10 Total No Title Admin and managers salary Employee's salary 3 Maintenance of admin office 4 Depreciation of admin office Other admin expenses 5 1 2 6 Salaries of repairmen and fitters Electricity of equipment Materials for repair purposes Equipment depreciation Workshop depreciation Intra-plant movement of goods Salary of foremen Workshop lighting and electricity Total Title Indicators To the start of the period, kg Cost, S Measure kg kg Indicators Beginning stock, in units Cost in $ AA 528 Gold 2 3 Materials BB 840 Gold 1 6 2 18 480 21 000 12. Availability of readymade production stock for the start of the period: Unit title Gold 400 284 800 S 9. The ready-made production estimated on the base of average weighted method. 10. Company calculates the cost of production on the base of direct-costing. General production costs distributed based on proportion to direct labor costs (83%:17%). Admin and selling expenses are written to profit and loss. 11. Availability of materials for the start of the period: Silver 1 7 2 84 000 145 000 45 000 9 000 48 000 115 000 15 050 95 000 60 000 616 050 $ 74 000 41 000 46 000 135 000 80 400 376 400 CC 450 4 500 Silver 100 75 050

Double Bubble Inc company is engaged into production of metal jewelry - «Gold» and «Silver»>. The data below is for running of business: 1. Management had decided with the sales for the upcoming period: Gold-2500 units per 920 $ and Silver-500 units per 980 S. 2. Expected inventory stock for the end of the: Gold-20% of the sales volume; Silver-10% of the sales volume. 3. Expected cost for materials: AA-35 $ per kg; BB-25 $ per kg; CC-10 $ per kg. 4. Consumption of materials per unit: Material 1) Silver 1 4 kg 1 1,5 5. Management considers the required stock of materials for the end of the period. AA - 12% of production need; BB-15% of production need; CC-10% of production need. 6. Average cost per 1 hour of preparatory operations-20 S, 1 hour of main operations -30 p$; 1 hour of completion operations - 10 S. 7. Required labor per unit: Operations 2) AA BB CC Preparatory Main No 1 Tools and applications 2 3 4 5 6 7 8 9 Measure Hours Hours Completion Hours 8. The company plans the following expenses: 1)general production, 2)administrative and selling: 10 Total No Title Admin and managers salary Employee's salary 3 Maintenance of admin office 4 Depreciation of admin office Other admin expenses 5 1 2 6 Salaries of repairmen and fitters Electricity of equipment Materials for repair purposes Equipment depreciation Workshop depreciation Intra-plant movement of goods Salary of foremen Workshop lighting and electricity Total Title Indicators To the start of the period, kg Cost, S Measure kg kg Indicators Beginning stock, in units Cost in $ AA 528 Gold 2 3 Materials BB 840 Gold 1 6 2 18 480 21 000 12. Availability of readymade production stock for the start of the period: Unit title Gold 400 284 800 S 9. The ready-made production estimated on the base of average weighted method. 10. Company calculates the cost of production on the base of direct-costing. General production costs distributed based on proportion to direct labor costs (83%:17%). Admin and selling expenses are written to profit and loss. 11. Availability of materials for the start of the period: Silver 1 7 2 84 000 145 000 45 000 9 000 48 000 115 000 15 050 95 000 60 000 616 050 $ 74 000 41 000 46 000 135 000 80 400 376 400 CC 450 4 500 Silver 100 75 050

Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
ChapterC: Cases
Section: Chapter Questions
Problem 1C
See similar textbooks
icon
Related questions
Question
100%

Can you make an Profit and loss(Income statement). for this given information

 

please do not provide solution in image format thank you!

Double Bubble Inc company is engaged into production of metal jewelry - «Gold» and «Silver»>. The data below is for running of business: 1. Management had decided with the sales for the upcoming period: Gold-2500 units per 920 $ and Silver-500 units per 980 $. 2. Expected inventory stock for the end of the: Gold-20% of the sales volume; Silver-10% of the sales volume. Silver 1 4 kg 1 1,5 5. Management considers the required stock of materials for the end of the period. AA - 12% of production need; BB - 15% of production need; CC-10% of production need. 6. Average cost per 1 hour of preparatory operations-20 $, 1 hour of main operations-30 p$; 1 hour of completion operations - 10 S. 7. Required labor per unit: Operations 1) 3. Expected cost for materials: AA-35 $ per kg; BB-25 $ per kg; CC-10 $ per kg. 4. Consumption of materials per unit: Material 2) AA BB CC Preparatory Main Measure Hours Hours Hours Completion 8. The company plans the following expenses: 1)general production, 2)administrative and selling: №o 10 1 2 3 Electricity of equipment 4 Materials for repair purposes 5 Equipment depreciation 6 Workshop depreciation 7 8 9 No 1 2 3 4 5 6 Tools and applications Salaries of repairmen and fitters Total Intra-plant movement of goods Salary of foremen Workshop lighting and electricity Title Title Admin and managers salary Employee's salary Maintenance of admin office Depreciation of admin office Other admin expenses Total Indicators To the start of the period, kg Cost, S Indicators Measure kg kg Beginning stock, in units Cost in $ AA 528 Materials BB Gold 2 3 840 18 480 21 000 12. Availability of readymade production stock for the start of the period: Unit title Gold 1 6 2 Gold 400 284 800 9. The ready-made production estimated on the base of average weighted method. 10. Company calculates the cost of production on the base of direct-costing. General production costs distributed based on proportion to direct labor costs (83%:17%). Admin and selling expenses are written to profit and loss. 11. Availability of materials for the start of the period: $ Silver 1 7 2 84 000 145 000 45 000 9 000 48 000 115 000 15 050 95 000 60 000 616 050 $ 74 000 41 000 46 000 135 000 80 400 376 400 CC 450 4 500 Silver 100 75 050
Transcribed Image Text:Double Bubble Inc company is engaged into production of metal jewelry - «Gold» and «Silver»>. The data below is for running of business: 1. Management had decided with the sales for the upcoming period: Gold-2500 units per 920 $ and Silver-500 units per 980 $. 2. Expected inventory stock for the end of the: Gold-20% of the sales volume; Silver-10% of the sales volume. Silver 1 4 kg 1 1,5 5. Management considers the required stock of materials for the end of the period. AA - 12% of production need; BB - 15% of production need; CC-10% of production need. 6. Average cost per 1 hour of preparatory operations-20 $, 1 hour of main operations-30 p$; 1 hour of completion operations - 10 S. 7. Required labor per unit: Operations 1) 3. Expected cost for materials: AA-35 $ per kg; BB-25 $ per kg; CC-10 $ per kg. 4. Consumption of materials per unit: Material 2) AA BB CC Preparatory Main Measure Hours Hours Hours Completion 8. The company plans the following expenses: 1)general production, 2)administrative and selling: №o 10 1 2 3 Electricity of equipment 4 Materials for repair purposes 5 Equipment depreciation 6 Workshop depreciation 7 8 9 No 1 2 3 4 5 6 Tools and applications Salaries of repairmen and fitters Total Intra-plant movement of goods Salary of foremen Workshop lighting and electricity Title Title Admin and managers salary Employee's salary Maintenance of admin office Depreciation of admin office Other admin expenses Total Indicators To the start of the period, kg Cost, S Indicators Measure kg kg Beginning stock, in units Cost in $ AA 528 Materials BB Gold 2 3 840 18 480 21 000 12. Availability of readymade production stock for the start of the period: Unit title Gold 1 6 2 Gold 400 284 800 9. The ready-made production estimated on the base of average weighted method. 10. Company calculates the cost of production on the base of direct-costing. General production costs distributed based on proportion to direct labor costs (83%:17%). Admin and selling expenses are written to profit and loss. 11. Availability of materials for the start of the period: $ Silver 1 7 2 84 000 145 000 45 000 9 000 48 000 115 000 15 050 95 000 60 000 616 050 $ 74 000 41 000 46 000 135 000 80 400 376 400 CC 450 4 500 Silver 100 75 050
Expert Solution
steps

Step by step

Solved in 7 steps with 8 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Balance Sheet Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS