90.2K

Verified Solution

Link Copied!

5 d K ces Required information PR 2-38 (Algo) Financial-Statement Elements: Manufacturer (LO 2-5, 2-6) [The following information applies to the questions displayed below.] The following selected information was extracted from the 20x1 accounting records of Lone Oak Products: Raw material purchases Direct labor Indirect labor Selling and administrative salaries. Building depreciation* Other selling and administrative expenses Other factory costs Sales revenue ($130 per unit) *Seventy-five percent of the company's building was devoted to production activities; the remaining 25 percent was used for selling and administrative functions. Inventory data: January 1 $ 15,900 35,800 112,100 $ 175,000 254,000 108,000 133,000 80,000 195,000 344,000 1,495,000 Items Raw material Work in process Finished goods * *The January 1 and December 31 finished-goods inventory consisted of 1,350 units and 1,190 units, respectively. December 31 $ 18,200 62,100 97,900 Number of completed units PR 2-38 (Algo) Part 5: Determine the number of completed units manufactured during the year. 5. Determine the number of completed units manufactured during the year.

Required information PR 2-38 (Algo) Financial-Statement Elements: Manufacturer (LO 2-5, 2-6) [The following information applies to the questions displayed below] The following selected information was extracted from the 201 accounting records of Lone Oak Products: 'Seventy-five percent of the company's building was devoted to production activities; the remaining 25 percent was used for selling and administrative functions. Inventory data: -The January 1 and December 31 finished-goods inventory consisted of 1,350 units and 1,190 units, respectively. PR 2-38 (Algo) Part 5: Determine the number of completed units manufactured during the year. 5. Determine the number of completed units manufactured during the yeat

Answer & Explanation Solved by verified expert

See Answer