Como Aplicar Los GAAP A La Industria De Cable TV

Medeco Inc.

Schedule of Cost of Good Manufactured

For Year Endend December 31

Work in process Inventory January 1…………………………………. $7,000.00

Direct Material

Raw Material Inventory January 1………………………….. $10,000.00

Add Raw Material Purchases………………………………….. $90,000.00

Total Raw Material Available for use………………………. $100,000.00

Less Raw Material Ending Inventory………………………. ($17,000.00)

Direct Material Used Production……………………………. $83,000.00

Direct Labor…………………………………………………………………………… $60,000.00

Manufacturing Overhead

Depreciation Factory……………………………………………….. $42,000.00

Insurance Factory…………………………………………………….. $ 5,000.00

Maintenance Factory……………………………………………….. $30,000.00

Utilities Factory………………………………………………………… $27,000.00

Supplies Factory……………………………………………………….. $ 1,000.00

Indirect Labor……………………………………………………………. $65,000.00

Total Manufacturing Overhead Cost…………………………………….. $170,000.00

Total Manufacturing Cost……………………………………………………… $320,000.00

Total Cost Work in Process……………………………………………………. $327,000.00

Less Work in process Ending December 31…………………………… ($30,000.00)

Cost of Good Manufacturing………………………………………………… $297,000.00

Medeco Inc

Income Statement

For Year Ending December 31

Sales Revenue……………………………………………………………………………$450,000.00

LESS Sales Discount……………………………………………………….$ 0.00

Net Sales……………………………………………………………………… $450,000.00

Finished Good Inventory January 1………………………………………….. $10,000.00

Cost of Good Manufactured………………………………………………………$297,000.00

Cost of Available For Sales………………………………………………………….$307,000.00

Less Finished Good Inventory December 31………………………………($40,000.00)

Cost of Good Sold…………………………………………………………………….. $267,000.00

Gross Profit……………………………………………………………………………… $183,000.00

Operating Expense

Selling and Administrative Expense……………………………$150,000.00

Net Income……………………………………………………………………………… $33,000.00

3. The company produced the equivalent of 10,000 units of product during the year.

What was the unit cost for direct materials?

83,000 / 10,000 = 8.3

What was the unit cost for factory depreciation?

42,000 / 10,000 = 4.2

4. The company expects to produce 15,000 of product during the coming year.

What per unit cost and what total cost would you expect the company to incur for direct materials at this level of activity?

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