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Question : Ex. 181 Walt Bach Company has accumulated the following budget data

Ex. 181

Walt Bach Company has accumulated the following budget data for the year 2012.

1.Sales: 30,000 units, unit selling price $50.

2.Cost of one unit of finished goods: Direct materials 2 pounds at $5 per pound, direct labor 1.5 hours at $12 per hour, and manufacturing overhead $6 per direct labor hour.

3.Inventories (raw materials only): Beginning, 10,000 pounds; ending, 15,000 pounds.

4.Raw materials cost: $5 per pound.

5.Selling and administrative expenses: $160,000.

6.Income taxes: 30% of income before income taxes.

Ex. 181(Cont.)

Instructions

(a)Prepare a schedule showing the computation of cost of goods sold for 2012.

(b)Prepare a budgeted income statement for 2012.

 
 

 

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