Problem 1

Required: Use the following information to complete the below
schedule of cost of goods manufactured.
(25 points)
Purchases of raw materials
Raw materials available for use
Cost of direct raw materials used
Manufacturing overhead
Total manufacturing costs
Ending work-in-process inventory
Cost of goods manufactured

$120,000.00
$148,000.00
$124,000.00
$24,000.00
$310,000.00
$(46,000.00)
$306,000.00

Schedule of Cost of Goods Manufactured
Beginning inventory, raw materials
Plus: Purchases of raw materials
Raw materials available for use
Less: Ending raw materials inventory
Cost of direct raw materials used
Direct labor
Manufacturing overhead
Total manufacturing costs
Plus: Beginning work-in-process inventory
Total work in process
Less: Ending work-in-process inventory
Cost of goods manufactured

$$$$$-

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)
Break-even point in units
Fixed Costs
Contribution margin per unit
Break-even point in dollars

Break-even point in units * selling price

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