During 2011,Maryland Corporation incurred manufacturing expenses of $15,000,000 to produce 300,000 finished units.At year-end,it was determined that 250,000 units were sold while 25,000 units remained in ending inventory.
Required:
a.Compute the cost to produce one unit.
b.Compute the amount that will be reported on the income statement for cost of goods sold.
c.Compute the amount that will be reported on the balance sheet for ending inventory.

Question

Quizplus · Accepted Answer

The Answer of During 2011,Maryland Corporation incurred manufacturing expenses of $15,000,000 to produce 300,000 finished units.At year-end,it was determined that 250,000 units were sold while 25,000 units remained in ending inventory.
Required:
a.Compute the cost to produce one unit.
b.Compute the amount that will be reported on the income statement for cost of goods sold.
c.Compute the amount that will be reported on the balance sheet for ending inventory.

During 2011,Maryland Corporation Incurred Manufacturing Expenses of $15,000,000 to Produce