Cost and sales information for the most recent fiscal year are shown below:WALLACE RIVER COMPANYCost and Sales InformationFor the Year Ended December 31Purchases of raw materialsRaw materials inventory, beginningRaw materials inventory, endingDepreciation, factoryInsurance, factoryDirect labourMaintenance, factoryAdministrative expenseSalesUtilities, factorySupplies, factorySelling expenseAdvertising expenseIndirect labour, factoryWork in process inventory, beginningWork in process inventory, endingFinished goods inventory, beginningFinished goods inventory, ending$ 93,50013,50020,50044,1005,00063,50030,00071,400485,00027,0001,00081,40021,40065,0007,00030,00010,00040,000 3. Assume that the company produced 10,000 units of product during the year. What was the average cost per unit for directmaterials? What was the average cost per unit for factory depreciation? (Round your answers to 2 decimal places.)Cost Per UnitDirect materialsFactory depreciation4. Assume that the company expects to produce and sell 15,000 units of product during the coming year. What average cost per unitand what total cost would you expect the company to incur for direct materials and for factory depreciation at this level of activity?Assume that raw materials costs charged by suppliers will not change next year. For factory depreciation, assume that the companyuses straight-line depreciation and that the factory equipment has five years of useful life remaining. (Round your answers to 2decimal places.)Direct materialsFactory depreciationCost Per UnitTotal Cost

The cost of factory depreciation is fixed and unchanged by the number of units produced. Direct…

Cost and sales information for the most recent fiscal year are shown belo WALLACE RIVER COMPANY Cost and Sales Information For the Year Ended December 31 Purchases of raw materials Raw materials inventory, beginning Raw materials inventory, ending Depreciation, factory Insurance, factory Direct labour Maintenance, factory Administrative expense Sales Utilities, factory Supplies, factory Selling expense Advertising expense Indirect labour, factory Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending $ 93,500 13,500 20,500 44,100 5,000 63,500 30,000 71,400 485,000 27,000 1,000 81,400 21,400 65,000 7,000 30,000 10,000 40,000

Cost and sales information for the most recent fiscal year are shown belo WALLACE RIVER COMPANY Cost and Sales Information For the Year Ended December 31 Purchases of raw materials Raw materials inventory, beginning Raw materials inventory, ending Depreciation, factory Insurance, factory Direct labour Maintenance, factory Administrative expense Sales Utilities, factory Supplies, factory Selling expense Advertising expense Indirect labour, factory Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending $ 93,500 13,500 20,500 44,100 5,000 63,500 30,000 71,400 485,000 27,000 1,000 81,400 21,400 65,000 7,000 30,000 10,000 40,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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