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.

Instructions:
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
accountability through conceptual framework in australia eassy on this topic with research

Define Accruals or accrued charges What are Accruals or accrued charges - Expenses that are done for the current accounting period which have not yet been paid. These are someti

Jaedan Industries has the following account balances as of December 31, 2010.  The firm's dividend payout ratio is 25% and the tax rate is 34%.  The firm's stock price on December

Suppose that the average firm in your company's industry is expected to grow at a constant rate of 4% and that its dividend yield is 8%. Your company is about as risky as the avera

1. Assume that the following data relative to Eddy Company for 2014 is available: Net Income $1,400,000 Transactions in Common Shares Change Cumulative Jan. 1, 2014, Beginnin

Problem1 Derive from first principles an expression for the variance of the benefits payable under an endowment assurance with benefits payable at the end of the year of death.

Problem on balance sheet: At the beginning of 20X2, Dahl Ltd. acquired 8% of the outstanding common shares of Tippy Ltd. for $400,000. This amounted to 80,000 shares.  At th

Effects of the appointment of the receiver Floating charges: these crystallise on the appointment of a receiver and become fixed on the assets then in the hands of the compan

I have an assignment due in four hours. Is it possible to get an inquiry if at least half of it can be done within that time?

Interest Interest may be claimed-up to the date of the receiving order - if it is payable: By agreement; By statute; If the debt was created in writing and due at a