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The following selected information was extracted from the all accounting records of Lone Oak Products...

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Accounting

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The following selected information was extracted from the all accounting records of Lone Oak Products m Problem 2-38 Anancial Statement ments Manufacture (L02.5,2-6) 2. Cost of goods manufactured 5913 4. Net Income: $154 Roundertal purchases $ 175,000 Diedlabai 254,000 Indirect labor 109,000 Selling and adultistrative salaries 133,000 Building deprecation 30.000 Other selling and administrative expenses 195.000 Other factory costs 344.000 Sales revenue 3130 per unit 1,495,000 Seventy the percent of the company's building was devoted to production estheeraning percent was used for selling and administrative in tons Inventory data January1 December 31 Raw material $ 15,800 $18.700 35,700 62,100 111,100 97,900 "The January and December 31 Inished goods restored of mounts and 1190 unisexede Work in process Pnished goods year Required 1. Calculate Lone Oak's manufacturing overhead for the 2. Calculate Lone Oak's cost of goods manufactured 3. Compute the company's cost of goods soll 4. Determine net income for 2tk , assuming a 30% income tax rate, Determine the number of completed units Manufactured during the year

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