Sales 559,000 5,500 Sales returns Inventories, January 1: Raw materials Work in process Finished goods Inventories, December 31: 13,100 23,800 44,200 Raw materials 14,500 17,750 41,200 105,000 205,300 1,700 1,250 Work in process Finished goods Direct labor Raw materials purchases Purchase returns and allowances Purchase discounts Freight in Advertising Amortization - patents 850 20,000 3,300 2,000 4,400 2,550 6,400 7,700 8,400 6,500 7,800 3,530 5,600 5,000 15,500 1,320 44,500 6,500 1,050 Bad debts Depreciation - factory building Depreciation - machinery and factory equipment Depreciation - office equipment Depreciation - store equipment Dividends paid Factory light and power Factory supplies used Indirect labor Interest income Miscellaneous factory expenses Office salaries Property taxes and insurance - office Sales salaries Office supervision Factory tools (amount is immaterial) Note: Income tax rate applicable for the company is 30%.

Sales 559,000 5,500 Sales returns Inventories, January 1: Raw materials Work in process Finished goods Inventories, December 31: 13,100 23,800 44,200 Raw materials 14,500 17,750 41,200 105,000 205,300 1,700 1,250 Work in process Finished goods Direct labor Raw materials purchases Purchase returns and allowances Purchase discounts Freight in Advertising Amortization - patents 850 20,000 3,300 2,000 4,400 2,550 6,400 7,700 8,400 6,500 7,800 3,530 5,600 5,000 15,500 1,320 44,500 6,500 1,050 Bad debts Depreciation - factory building Depreciation - machinery and factory equipment Depreciation - office equipment Depreciation - store equipment Dividends paid Factory light and power Factory supplies used Indirect labor Interest income Miscellaneous factory expenses Office salaries Property taxes and insurance - office Sales salaries Office supervision Factory tools (amount is immaterial) Note: Income tax rate applicable for the company is 30%.

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter12: Differential Analysis And Product Pricing

Section: Chapter Questions

Problem 12.16E: Product cost concept of product pricing Based on the data presented in Exercise 12-15, assume that...

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Product cost concept of product pricing Based on the data presented in Exercise 12-15, assume that Willis Products Inc. uses the product cost concept of applying the cost-plus approach to product pricing. a.Determine the total manufacturing costs and the cost amount per unit for the production and sale of 200,000 units. b.Determine the product cost markup percentage per unit. Round to two decimal place. c.Determine the selling price per unit. Round to the nearest dollar.
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