Pearce Manufacturing Inc. incurred the following costs in February:
Raw materials purchased
Indirect materials used
In addition, the following information is also available:
Number of units produced
Number of units sold
(sales price of $25 per unit)
1.) Calculate total period costs.
2.) Calculate raw materials used.
3.) Calculate cost of goods manufactured.
4.) Calculate the product cost per unit.
5.) Calculate cost of goods sold.
6.) Calculate net operating income. (Ignore taxes)
The following information is available for the Brown Company for the month ended July 31:
Direct materials purchased
Direct labor (2,500 hrs@$12)
Office supplies expense
Factory equipment depreciation
Office equipment depreciation
Sales commissions expense
Direct materials inventory
Work in process inventory
Finished goods inventory
7.) Determine the direct materials used in July.
8.) Determine cost of goods manufactured in July.
9.) Determine cost of goods sold for July
10.) Prepare an income statement for July. (Ignore taxes)
Complete responses should meet or exceed the required word count if applicable. The minimum word count will need to exceed 150 words for each question unless otherwise stated. You must show your work if the question required a numerical answer.
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