Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 12 Aug 2017 My Price 13.00

Road Warrior Corporation

Road Warrior Corporation began operations early in the current year, building luxury motor homes. During the year, the company started and completed 50 motor homes at a cost of $60,000 per unit. Of these, 48 were sold for $105,000 each and two remain in finished goods inventory. In addition, the company had six partially completed units in its factory at year-end. Total costs for the year (summarized alphabetically) were as follows:

         
Direct materials used   $ 761,000  
Direct labor     832,000  
Income tax expense     100,000  
General and administrative expenses     500,000  
Manufacturing overhead     1,640,000  
Selling expenses     500,000  
a.

Compute the total manufacturing costs charged to work in process for the current year:(Omit the "$" sign in your response.)
Total manufacturing costs $
b.

Compute the cost of finished goods manufactured for the current year:(Omit the "$" sign in your response.)
Cost of finished goods manufactured $
c.

Compute the cost of goods sold for the current year:(Omit the "$" sign in your response.)
Cost of goods sold $
d.

Compute the gross profit on sales for the current year:(Omit the "$" sign in your response.)
Gross profit on sales $
e.

Compute the ending inventories of (1) work in process and (2) finished goods for the current year:(Omit the "$" sign in your response.)
     
(1) Ending inventory of work in process $
(2) Ending inventory of finished goods $

Answers

Maurice Tutor
(5)
Status NEW Posted 12 Aug 2017 06:08 PM My Price 13.00

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