Income Statement, Cost of Goods Manufactured Spencer Company produced 200,000 cases of sports drinks during the past calendar year. Each case of 1-liter bottles sells for $36. Spencer had 2,500 cases of sports drinks in finished goods inventory at the beginning of the year. At the end of the year, there were 11,500 cases of sports drinks in finished goods inventory. Spencer's accounting records provide the following information: 11eb6eba_1b65_f143_b349_9da44a0927f9_SM1590_00 Required: 1. Prepare a cost of goods manufactured statement. 2. Compute the cost of producing one case of sports drink last year. (Round your answer to the nearest cent.) 3. Prepare an income statement on an absorption-costing basis. Include a column showing the percent of each line item of sales. (Round your percentage answers to two significant digits, e.g., 45.67%.)

Cornerstones of Cost Accounting 1st Edition by Don Hansen,Maryanne Mowen

النسخة 1الرقم المعياري الدولي: 978-0538736787

Cornerstones of Cost Accounting 1st Edition by Don Hansen,Maryanne Mowen

النسخة 1الرقم المعياري الدولي: 978-0538736787

تمرين 38

Income Statement, Cost of Goods Manufactured
Spencer Company produced 200,000 cases of sports drinks during the past calendar year. Each case of 1-liter bottles sells for $36. Spencer had 2,500 cases of sports drinks in finished goods inventory at the beginning of the year. At the end of the year, there were 11,500 cases of sports drinks in finished goods inventory. Spencer's accounting records provide the following information:

Required:
1. Prepare a cost of goods manufactured statement.
2. Compute the cost of producing one case of sports drink last year. (Round your answer to the nearest cent.)
3. Prepare an income statement on an absorption-costing basis. Include a column showing the percent of each line item of sales. (Round your percentage answers to two significant digits, e.g., 45.67%.)

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1.
Cost of goods manufactured statement ...