ACC 206 Class Notes Ashford

Apr 18th, 2015
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Week 3 AssignmentACC 206E16-17Req. 1Fido GroomingIncome StatementMonth of AprilIncome Revenue16300.00Expenses Wages(3900.00) Grooming Supplies(1625.00) Building Rent(1300.00) Utilities(325.00) Depreciation of Equiptment(130.00)Net Income9020.00Req. 2Unit cost to groom one dog =7280/650=$11.20 P 16-25AReq. 1Fido TreatsSchedule of Cost of Goods ManufacturedYear Ended December 31, 2012Beginning work in process inventory$ 0Direct materials used:Beginning direct materials inventory$13,400Purchases of direct materials33,000Available for use$46,400Ending direct materials inventory (9,500)Direct materials used$36,900Direct labor22,000Manufacturing overhead:Rent on plant$13,000Utilities for plant1,600Plant janitorial services 800Total manufacturing overhead 15,400Total manufacturing costs incurredduring the year 74,300Total manufacturing costs to account for$74,300Ending work in process inventory (2,000)Cost of goods manufactured $72,300Fido TreatsIncome StatementYear Ending December 31, 2012Sales Revenue109000.00Cost of Goods SoldCost of Goods Manufactured(80400.00)Ending Finished Goods Inventory5300.00Cost of Goods Sold33900.00Gross Profit33900.00** Operating Income was included in Cost of Goods ManufacturedReq 3. The manufacturing income

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