Inventories: JANUARY 1 $48,600 81,500 34,200 DECEMBER 31 Finished goods.. Work in process Materials Depreciation Interest earned $ 42,350 49,300 21,350 6,300 .......... factory equipment ... *. Finished goods inventory: January 1: 300 units; December 31: 420 units, all from current year's production. Sold during 19--: 3,880 units at $220 per unit. Materials purchased Direct labor.. Vndirect labor...... $364,000 162,500 83,400 8,600 47,900 5,200 Freight in VMiscellaneous factory overhead ...... Purchases discount. Required: (1) The unit cost of the finished goods inventory, December 31. (2) The total cost of the finished goods inventory, December 31. (3) The cost of goods sold. (4) The gross profit total and the gross profit per unit.

Inventories: JANUARY 1 $48,600 81,500 34,200 DECEMBER 31 Finished goods.. Work in process Materials Depreciation Interest earned $ 42,350 49,300 21,350 6,300 .......... factory equipment ... *. Finished goods inventory: January 1: 300 units; December 31: 420 units, all from current year's production. Sold during 19--: 3,880 units at $220 per unit. Materials purchased Direct labor.. Vndirect labor...... $364,000 162,500 83,400 8,600 47,900 5,200 Freight in VMiscellaneous factory overhead ...... Purchases discount. Required: (1) The unit cost of the finished goods inventory, December 31. (2) The total cost of the finished goods inventory, December 31. (3) The cost of goods sold. (4) The gross profit total and the gross profit per unit.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 7Q: From beginning to end, place these items in the order of the flow of goods. A. cost of goods sold B....

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