BUSINESS COLLEGE

For fiscal year 2016, Nancy calculated the following costs for Choco-rama’s manufacturing process. Beginning work in process inventory, $22,655 Ending work in process inventory, $28,207 Beginning raw materials inventory, $42,385 Ending raw materials inventory, $44,299 Raw materials purchased, $387,521 Office supplies purchased and used, $15,274 388,400 man-hours of factory labor incurred at $23.60/hour 14,200 man-hours of factory oversight labor incurred at $28.75/hour Administrative salaries, $392,000 Factory utilities, $18,500 Factory depreciation, $9,700 Factory repairs, $15,400

Answers

Answer 1
Answer:

Answer:

The Cost of Manufactured Goods                                                   9,998,145

Explanation:

The question is to determine Choco-rama's Cost of Goods Manufactured for the 2016 Fiscal Year.

CHOCO RAMA COST OF GOODS MANUFACTURED FOR THE 2016 FISCAL YEAR

Description                                                  Amount ($)             Amount ($)

Opening Inventory of Raw materials                                             42,385

Add: Purchase of raw materials                                                     387,521

Direct raw materials available                                                       429,906

Subtract: Closing raw materials                                                      (44,299)

Raw materials in Production                                                          385,607

Add:

Direct labour  ($388,400 x $23.60)                                                9,166,240

Manufacturing overhead                                                                  451,850                      

The total manufacturing costs                                                       10,003,697

Add: Opening Work-in-Progress                                                      22,655

                                                                                                         10,026,352

Subtract: Closing work-in-progress                                                  (28,207)

The Cost of Manufactured Goods                                                   9,998,145

                                           

 

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Answers

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Answers

Answer:

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Explanation:

The workings have been done to show the results.

Swifty Inc.

                Women’s Shoes     Men’s Shoes       Children’s Shoes

Sales             675,600               506,700                   (6) $ 484180

Variable costs (2)$ 371580     360,320                    281,500

C. Margin $304,020                $ (3)146380             $202,680

(2) Variable Costs = Sales - Contribution Margin= 675600- 304020=

$ 371580

(3) Contribution Margin= Sales - Variable Costs =  506,700-360,320 = $ 146380

(6) Sales = Contribution Margin + Variable Costs= 281,500 +$202,680 = $ 484,180

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                Women’s Shoes     Men’s Shoes       Children’s Shoes

Sales             675,600               506,700                  $ 484180

Variable costs $ 371580           360,320                    281,500

C. Margin        $304,020          $ 146380               $202,680

Controllable

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Controllable margin (1) $ 191420   101,340                      106,970

(1) Controllable margin=Contribution Margin-Controllable fixed costs

= $ 304,020  -112,600 =$ 191420

(4) Contribution Margin- Controllable margin=Controllable fixed costs

$ 146380  - 101,340  = $45,040

(5)  Contribution Margin- Controllable margin=Controllable fixed costs

$202,680 - 106,970 = $ 95710

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Answers

Answer:

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Answers

Answer:

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Explanation:

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Answers

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Answers

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Explanation:
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