The Chewbaca Company reported the following data related to its manufacturing operations between Year 1 and Year 2 (Chewbaca has a December 31st Fiscal year-end)   Jan 1, Y2 Jan 1, Y1 Raw materials 10,200 3,800 Work in Process 22,600 18,500 Finished Goods 38,750 38,105 Cost Incurred:   Raw materials purchased 88,700 Factory direct labor 178,960 Factory suppliers 43,650 Factory depreciation 105,000 President's salary 110,000 Sales force salaries 88,000 Sales force expenses 8,700 Heat, light, and power 16,000 Factory insurance 29,000 Calculate:   a. The cost of materials requisitioned for production during the year.   b. The cost of the units that were completed and transferred to finished goods during the year.   c. The cost of goods sold during the year.

Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Johnstone Manufacturing Company for the month ended March 31 are as f Inventories March 1 March 31 Materials Work in process Finished goods $193,500 129,650 98,690 $166,410 111,490 113,160 Direct labor Materials purchased during March Factory overhead incurred during March: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs Direct materials: $348,300 371,520 37,150 22,450 7,740 6,190 5,420 10,060 a. Prepare a cost of goods manufactured statement for March. Johnstone Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31

Financial Statements of a Manufacturing Firm The following events took place for Focault Inc. during July 20Y2, the first month of operations as a producer of road bikes: • Purchased $517,700 of materials Used $445,200 of direct materials in production • Incurred $384,000 of direct labor wages • Applied factory overhead at a rate of 80% of direct labor cost • Transferred $1,090,900 of work in process to finished goods • Sold goods with a cost of $1,035,400 • Sold goods for $1,853,400 • Incurred $445,200 of selling expenses • Incurred $165,700 of administrative expenses a. Prepare the July income statement for Focault. Assume that Focault uses the perpetual inventory method. Focault Inc. Income Statement For the Month Ended July 31, 20Y2 Revenues Cost of goods sold Gross profit Selling and administrative expenses: Selling expenses 5,200 Administrative expenses 165,700 Total selling and administrative expenses 610,900 Income from operations

The following cost data relate to the manufacturing activities of ABC Company during the just completed year:           Manufacturing overhead costs incurred:     Indirect materials $ 16,900 Indirect labor   149,000 Property taxes, factory   9,900 Utilities, factory   89,000 Depreciation, factory   316,900 Insurance, factory   11,900 Total actual manufacturing overhead costs incurred $ 593,600 Other costs incurred:     Purchases of raw materials (both direct and indirect) $ 419,000 Direct labor cost $ 79,000 Inventories:     Raw materials, beginning $ 21,900 Raw materials, ending $ 31,900 Work in process, beginning $ 41,900 Work in process, ending $ 71,900     The company uses a predetermined overhead rate of $28 per machine-hour to apply overhead cost to jobs. A total of 21,600 machine-hours were used during the year.   Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year. 2. Prepare a schedule of cost of…

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