1 answer

Santana Rey, owner of business solutions, decides to diversify her business by also manufacturing computer workstation...

Question:

Santana Rey, owner of business solutions, decides to diversify her business by also manufacturing computer workstation furniture.
to as (a) e or fixed and (b) direct or indirect of cost of goods $2,700 Direct labor: $1,100 Next
3. Prepare the cost of goods sold section of a partial income statement for Business Solutions for the mon ook ed Required 3 >
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to as (a) e or fixed and (b) direct or indirect of cost of goods $2,700 Direct labor: $1,100 Next
3. Prepare the cost of goods sold section of a partial income statement for Business Solutions for the mon ook ed Required 3 >
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Answers

1.)

Sr. No.

COST BY BEHAVIOR

COST BY TRACEABILITY

1

Fixed

Indirect

2

Variable

Direct

3

Fixed

Indirect

4

Variable

Direct

5

Fixed

Direct

6

Fixed

Indirect

7

Fixed

Direct

2.)

Schedule of Cost of goods manufactured

Direct Materials (a)

2,700

Direct Labour (b)

1,100

Factory Overhead (c)

530

Total manufacturing costs [a+b+c] (d)

4,330

Ending work in process (e)

600

Cost of goods manufactured [d-e]

3,730

3.)

Cost of Goods Sold

Cost of Goods manufactured (a)

3,730

Ending finished goods inventory (b)

360

Cost of goods sold [a-b]

3,370

.

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