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TCO,Madlem Inc,carter corporation

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Question;1. Madlem, Inc., produces and sells a single product whose selling price is $240.00 per unit and whose variable expense is $86.40 per unit. The company's fixed expense is $720,384 per month.Required:Determine the monthly break-even in either unit or total dollar sales. Show your work!2.Carter Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below.Work in process, beginning:Units in beginning work-in-process inventory 400Materials costs $6,900Conversion costs $2,500Percentage complete for materials 80%Percentage complete for conversion 15%Units started into production during the month 6,000Units transferred to the next department during the month 5,800Materials costs added during the month $112,500Conversion costs added during the month $210,300Ending work in process:Units in ending work-in-process inventory 1,400Percentage complete for materials 70%Percentage complete for conversion 40%Required: Calculate the equivalent units for materials (using the weighted-average method) for the month in the first processing department3(TCO A) The following data (in thousands of dollars) have been taken from the accounting records of the Maroon Corporation for the just-completed year.Sales 1,150Raw materials inventory, beginning 15Raw materials inventory, ending 40Purchases of raw materials 150Direct labor 250Manufacturing overhead 300Administrative expenses 500Selling expenses 300Work in process inventory, beginning 100Work in process inventory, ending 150Finished goods inventory, beginning 80Finished goods inventory, ending 120Use the above data to prepare (in thousands of dollars) a schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold for the year. In addition, what is the impact on the financial statements if the ending finished goods inventory is overstated or understated?

 

Paper#41416 | Written in 18-Jul-2015

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