cost assignment methods brody company makes industrial cleaning solvents various che 4143223

February 11, 2021/in Business Homework Help Online /by Joseph

Cost Assignment Methods Brody Company makes industrial cleaning solvents. Various chemicals, detergent, and water are mixed together and then bottled in 10-gallon drums. Brody provided the following information for last year: Raw materials purchases $250,000Direct labor 140,000Depreciation on factory equipment 45,000Depreciation on factory building 30,000Depreciation on headquarters building 50,000Factory insurance 15,000Property taxes: Factory 20,000Headquarters 18,000Utilities for factory 34,000Utilities for sales of?ce 1,800Administrative salaries 150,000Indirect labor salaries 156,000Sales of?ce salaries 90,000Beginning balance, raw materials 124,000Beginning balance, work in process 124,000Beginning balance, ?nished goods 84,000Ending balance, raw materials 102,000Ending balance, work in process 130,000Ending balance, ?nished goods 82,000 Last year, Brody completed 100,000 units. Sales revenue equaled $1,200,000, and Brody paid a sales commission of 5 percent of sales. Required:

1. Calculate the direct materials used in production for last year

.2. Calculate total prime cost.

3. Calculate total conversion cost

.4. Prepare a cost of goods manufactured statement for last year. Calculate the unit productcost.5. Prepare a cost of goods sold statement for last year.

6. Prepare an income statement for last year. Show the percentage of sales that each line item represents.

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