Slapshot Company makes ice hockey sticks and sold 1,880 sticks during the month of June at a total cost of $433,000. Each stick sold at a price of $400. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales price and other selling expense of $65,000. Administrative expense totaled $53,800.Required:Prepare an income statement for Slapshot for the month of June.

Kildeer Company makes easels for artists. During the last calendar year, a total of 30,000 easels were made, and 31,000 were sold for 52 each. The actual unit cost is as follows: The selling expenses consisted of a commission of 1.30 per unit sold and advertising copayments totaling 95,000. Administrative expenses, all fixed, equaled 183,000. There were no beginning and ending work-in-process inventories. Beginning finished goods inventory was 132,600 for 3,400 easels. Required: 1. Calculate the number and the dollar value of easels in ending finished goods inventory. 2. Prepare a cost of goods sold statement. 3. Prepare an absorption-costing income statement. Add a column for percentage of sales.

Use the following information for Brief Exercises 2-32 and 2-33: Morning Smiles Coffee Company manufactures Stoneware French Press coffee makers and sold 8,000 coffee makers during the month of March at a total cost of 612,500. Each coffee maker sold at a price of 100. Morning Smiles also incurred two types of selling costs: commissions equal to 5% of the sales price and other selling expense of 45,000. Administrative expense totaled 47,500. 2-32 Manufacturing Firm Income Statement Refer to the information for Morning Smiles Coffee Company on the previous page. Required: Prepare an income statement for Morning Smiles for the month of March.

Spencer Company produced 200,000 cases of sports drinks during the past calendar year. Each case of 1-liter bottles sells for 36. Spencer had 2,500 cases of spoils drinks in finished goods inventory at the beginning of the year. At the end of the year, there were 11,500 cases of sports drinks in finished goods inventory. Spencers accounting records provide the following information: Required: 1. Prepare a cost of goods manufactured statement. 2. Compute the cost of producing one case of sports drink last year. (Round your answer to the nearest cent.) 3. Prepare an income statement on an absorption-costing basis. Include a column showing the percent of each line item of sales. (Round your percentage answers to two significant digits, e.g., 45.67%.)

Using the information in the previous exercises about Marleys Manufacturing, determine the operating income for department B, assuming department A sold department B 1,000 units during the month and department A reduces the selling price to the market price.

Logo Gear purchased $2,250 worth of merchandise during the month, and its monthly income statement shows cost of goods sold of $2,000. What was the beginning inventory if the ending inventory was $1,000?

Maria Cohen is employed as a salesperson in the mens department of Lees Fashions. In addition to her weekly base salary of 400 (35-hour week), Cohen is paid a commission of 1% on her total net sales for the week (total gross sales less any customer returns). During the past week, to promote the sale of its fine cashmere sweaters, Lees agreed to pay Cohen an additional PM (push money) of 3% of the total net sales of cashmere sweaters. Cohens weekly sales tally is given below. Compute Cohens total weekly earnings, showing her (a) weekly base salary, (b) commission, (c) PM, and (d) total weekly earnings.

Pattison Products, Inc., began operations in October and manufactured 40,000 units during the month with the following unit costs: Fixed overhead per unit = 280,000/40,000 units produced = 7. Total fixed factory overhead is 280,000 per month. During October, 38,400 units were sold at a price of 24, and fixed marketing and administrative expenses were 130,500. Required: 1. Calculate the cost of each unit using absorption costing. 2. How many units remain in ending inventory? What is the cost of ending inventory using absorption costing? 3. Prepare an absorption-costing income statement for Pattison Products, Inc., for the month of October. 4. What if November production was 40,000 units, costs were stable, and sales were 41,000 units? What is the cost of ending inventory? What is operating income for November?

A company manufactures and sells blades that are used in riding lawnmowers. The 18-inch blade sells for $15 and has per-unit variable costs of $4 associated with its production. The company has fixed expenses of $85,000 per month. In January, the company sold 12,000 of the 18-inch blades. A. Calculate the contribution margin per unit for the 18-inch blade. B. Calculate the contribution margin ratio of the 18-inch blade. C. Prepare a contribution margin income statement for the month of January.

For August, Kimbrell Manufacturing has costs in BWIP equal to 112,500. During August, the cost incurred was 450,000. Using the weighted average method, Kimbrell had 125,000 equivalent units for August. There were 100,000 units transferred out during the month. The cost of goods transferred out is a. 500,000. b. 400,000. c. 450,000. d. 360,000. e. 50,000.