Tampa foundry began operations during the current year, Ask an Expert

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Tampa Foundry began operations during the current year, manufacturing various products for industrial use. One such product is light-gauge aluminum, which the company sells for $36 per roll. Cost information for the year just ended follows.

Per Unit Variable Cost FIxed Cost

Direct materials $4.50 ______

Direct Labor 6.50 ----------

Factory Overhead 9 50,000

Selling --- 70,000

Administrative --- 135,000

Determine the cost of the finished goods inventory of light-gauge aluminum

Prepare an income statement for the current year ended December 31.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9801158

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