shades of the Caribbean design and manufactur ecords of the business reflect the following data a Inventory 1/7/2017 30/6/2018 $230,000 $260,000 $35,000 $24,000 $358,000 $213,000 $975,400 $585,000 Raw Materials Factory Supplies Work in Progress Finished Goods Other information: Sales Revenue Factory Supplies Purchased Direct Factory Labor Raw Materials Purchased
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Of the total utilities, 80% relates to manufacturing and 20% relates to general and administrative costs.
2 The property taxes should be shared: 75% manufacturing & 25% general & administrative costs
Questions:
PLEASE ANSWER QUESTIONS: d), e) ,f).
a) Calculate the raw material & factory supplies used by Shades of the Caribbean
b) What is the total manufacturing overhead cost incurred by Shades of the Caribbean during the
period?
c) Determine the prime cost & conversion cost of the product manufactured
d) Prepare a schedule of cost of goods manufactured for the year ended June 30, 2018, clearly
showing total
e) Prepare an income statement for the year ended June 30, 2018, clearly showing the calculation of
Cost of Goods sold. List the non-production
f) Given that the company manufactured 1,600 sun-glasses, compute the company’s unit product cost
for the year.
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- Park and West, LLC, provides consulting services to retail merchandisers in the Midwest. In 2019, they generated $720,000 in service revenue. Their total cost (fixed and variable) per client was $2,500 and they served 115 clients during the year. If operating expenses for the year were $302,000 what was their net income?Ballentine Manufacturing produces and sells lawnmowers through a national dealership network. They purchase raw materials from a variety of suppliers, and all manufacturing and assembly work is performed at their plant outside of Kansas City. Missouri. They recorded these costs for the year ending December 31, 2017. Construct an income statement for Ballentine Manufacturing to reflect their net income for 2017.Pandora Corporation operates several factories in the Midwest that manufacture consumer electronics. TheDecember 31, 2018, year-end trial balance contained the following income statement items:Account Title Debits CreditsSales revenue 12,500,000Interest revenue 50,000Loss on sale of investments 100,000Cost of goods sold 6,200,000Selling expenses 620,000General and administrative expenses 1,520,000Interest expense 40,000Research and development expense 1,200,000Income tax expense 900,000Required:Calculate the company’s operating income for the year
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