Sales revenue. $950,000 Work-in-process inventory, December 31. 30,000 Work-in-process inventory, January 1 40,000 Selling and administrative expenses. 150,000 Income tax expense. 90,000 Purchases of raw material 180,000 Raw-material inventory, December 31. Raw-material inventory, January 1 Direct labor. Utilities: plant. 25,000 40,000 200,000 40,000 Depreciation: plant and equipment.. 60,000 Finished-goods inventory, December 31 . 50,000 Finished-goods inventory, January 1 20,000 Indirect material.. 10,000 Indirect labor. 15,000 Other manufacturing overhead.. 80,000

Hill & Scott Company makes financial calculators. During the current year, Hill & Scott manufactured 106,700 financial calculators. Finished goods inventory had the following units on hand: January 1 1,386 units December 31 1,144 units How many financial calculators did Hill & Scott sell during the year? Group of answer choices

Required information [The following information applies to the questions displayed below.] In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 340 units at $9 on January 1, (2) 630 units at $10 on January 8, and (3) 930 units at $12 on January 29. Assuming 1,170 units are on hand at the end of the month, calculate the cost of goods available for sale, ending inventory, and cost of goods sold under LIFO. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold LIFO

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Required information [The following information applies to the questions displayed below.] In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 150 units at $7 on January 1, (2) 560 units at $8 on January 8, and (3) 860 units at $10 on January 29. Assuming 1,065 units are on hand at the end of the month, calculate the cost of goods available for sale, ending inventory, and cost of goods sold under LIFO. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold LIFO + $ 14,130

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The Walton Toy Company manufactures four dolls and a sewing kit. It provided the following data for next year: Demand Next Selling Price year (units) per Unit 61,000 $ 20.00 53,000 46,000 Direct Materials $ 5.40 $2.20 $ 8.09 $ 3.10 $ 6.50 $33.50 44,400 $14.00 336,000 $ 9.10 $ 4.30 Product Debbie Trish Sarah Mike Sewing kit The following additional information is available: a. The company's plant has a capacity of 113,140 direct labor-hours per year on a single-shift basis. Each employee and piece of equipment are capable of making all five products. b. Next year's direct labor pa rate will be $9 per hour. c. Fixed manufacturing costs total $630,000 per year. Variable overhead costs are $2 per direct labor-hour. d. All of the company's nonmanufacturing costs are fixed. e. The company's finished goods inventory is negligible and can be ignored. Required: 1. How many direct labor-hours are used to manufacture one unit of each of the company's five products? 2. How much variable overhead…

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[The following information applies to the questions displayed below] National Retail has two departments, Housewares and Sporting. Indirect expenses for the period follow. Rent Advertising Insurance Total $45,000 25,000 10.000 $80,000 The company occupies 4,000 square feet of a rented building. In prior periods, the company divided the $80,000 of indirect expenses by 4,000 square feet to find an average cost of $20 per square foot, and then allocated indirect expenses to each department based on the square feet it occupied. The company now wants to allocate indirect expenses using the allocation bases shown below. Department Sporting Hotal Square Feet 1,400 2,600 4,000 Value of Insured 40,000 $100,000 Problem 22-2A (Algo) Part 1 Required: 1. Allocate indirect expenses to the two departments using the allocation method used in prior periods. Department Square Footage Sparting Total