Light-gauge aluminum, Financial Accounting

Tampa Foundry began operations during the present year, manufacturing several products for industrial use. One such product is light-gauge aluminum, which the company sells for $36 per roll. Cost information for the year just ended follows.

Per Unit               Variable Cost     Fixed Cost

Direct materials     $4.50                    $ -
Direct labor            6.5                       -
Factory overhead     9                    50,000
Selling                    -                     70,000
Administrative         -                     135,000

Production and sales totaled 20,000 rolls and 17,000 rolls, however There is no work in process. Tampa carries its finished goods inventory at the average unit cost of production.

a.    Verify the cost of the finished goods inventory of light-gauge aluminum.
b.    List an income statement for the present year ended December 31

Posted Date: 3/21/2013 7:03:07 AM | Location : United States

Related Discussions:- Light-gauge aluminum, Assignment Help, Ask Question on Light-gauge aluminum, Get Answer, Expert's Help, Light-gauge aluminum Discussions

Write discussion on Light-gauge aluminum
Your posts are moderated
Related Questions
On November 1, 2011, Leetch Ltd. borrows $400,000 cash from a bank by signing a five-year installment note bearing 8% interest. The note needs equal total payments every year on Oc

Go to your assigned corporation's website and access their latest annual report. Answer the following questions regarding their derivative and foreign currency transactions. 1.

An investment project requires a net investment of $100,000. The project is expected to generate annual net cash inflows of $28,000 for the next 5 years. The firm's cost of capital

STATEMENTS OF FINANCIAL POSITION: as at 31 December 2011 Group                                 Note         2011                         2010        RM'

Registration of a D of A and assent of creditors A D of A will be void unless it is registered with the Registrar within 7 clear days after first execution and is properly stam

Determine the future value of Rs.1000 compounded continuously for 5 year on the interest rate of 12 percent per year and contrast it along with annual compounding.   Solution :

Please use the budget information in Assignment 7.1-case to prepare the budget in the Excel document Assignment 7.1-budget and cash flow.

explain the terms recording,classifying,summarizing and communicating

The following items represent liabilities on a firm's balance sheet: a. An amount of money owed to a supplier based on the terms 2/20, n/40, for which no note was executed. b. An a

On December 31, 2010, the stockholders' equity section of Arndt, Inc., was as follows: Common stock, par value $10; authorized 30,000 shares; issued and outstanding 9,000 shares $