Lofton Ltd., a microwave manufacturer, provide the following information for the year ended December 2008: Inventories Beginning Ending Materials $50,000 $25,000 Work in process 100,000 65,000 Finished goods Other information: 40,000 43,000 $15,000 Repairs & maintenance- plant $5,000 155,000 Indirect labour 30,000 20,000 Direct labour 120,000 48,000 Administrative expenses 52,000 Sales revenue 550,700 Depreciation: Plant Building & Equipment Materials purchases Insurance on plant Sales salaries expense Requirements: a) What is the unit product cost if Lofton manufactured 3,000 microwaves for the year?
Lofton Ltd., a microwave manufacturer, provide the following information for the year ended December 2008: Inventories Beginning Ending Materials $50,000 $25,000 Work in process 100,000 65,000 Finished goods Other information: 40,000 43,000 $15,000 Repairs & maintenance- plant $5,000 155,000 Indirect labour 30,000 20,000 Direct labour 120,000 48,000 Administrative expenses 52,000 Sales revenue 550,700 Depreciation: Plant Building & Equipment Materials purchases Insurance on plant Sales salaries expense Requirements: a) What is the unit product cost if Lofton manufactured 3,000 microwaves for the year?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
- Lofton Ltd., a microwave manufacturer, provide the following information for the year ended December 2008:
|
Inventories |
Beginning |
Ending |
|
Materials |
$50,000 |
$25,000 |
|
Work in process |
100,000 |
65,000 |
|
Finished goods Other information: |
40,000 |
43,000 |
|
& Equipment Materials purchases Insurance on plant Sales salaries expense
Requirements:
a) What is the unit product cost if Lofton manufactured 3,000 microwaves for the year?
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