ACCT 301 - week4

Problem 1

Required: Use the following information to complete the below schedule of cost of goods manufactured.
		(25 points)

Purchases of raw materials	$ 120,000.00
Raw materials available for use	$ 148,000.00
Cost of direct raw materials used	$ 124,000.00
Manufacturing overhead	$ 24,000.00
Total manufacturing costs	$ 310,000.00
Ending work-in-process inventory	$ (46,000.00)
Cost of goods manufactured	$ 306,000.00

Problem 2

Required: JZ is a musician who is considering whether to independently produce and sell a CD. JZ estimates fixed costs of $10,000 and variable costs of $4.00 per unit. The expected selling price is $12 per CD. What is JZ's break-even point in units and dollars?
					(25 points)

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