Thunderduck Custom Tables, Inc. Thunderduck Custom Tables, Inc. Thunderduck Custom Tables, Inc. Schedule of costof goods manufactured Costof goods...
Can you please help me understand how to calculate period cost incurred, total variable cost, contribution margin and the actual total fixed manufacturing overhead cost for this problem.
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Thunderduck Custom Tables, Inc.Thunderduck Custom Tables, Inc.Thunderduck Custom Tables, Inc.Schedule of costof goods manufacturedCostof goods soldIncome StatementFor the month Ended December 31, 20XXFor the month Ended December 31, 20XXFor the month Ended December 31, 20XXBeginning Raw MaterialsSOBeginning Finished GoodsSales$34,000Add: Purchase of Raw Materi$29,000Add: Cost of Goods Manufactu$10,810Less: Cost of Goods Sold$12,510Available for use$29,000Cost of Goods Available for Si$10,810Gross Margin$21, 490Less: Ending Raw Materials$13,910Less: Ending Finished GoodsSOSelling & Admin ExpenseRaw Materials Used$15,090Unadjusted Cost of Goods Sold$10,810Salaries and Wages Expe$2,000Less: Indirect Materials50Add: Underapplied MOH$1,700Advertising Expense$1, 400Direct Materials Used$15,090Adjusted Cost of Goods Sold$12,510Depreciation Expense$600Direct Labor$315Total Sells & Admin$4,000MOH Applied$4,950Net Income$17,490Total Manufactoring Cost$20,355Add: Beginning Work in ProSO$20,355Less: Ending Work in Proces59.545Cost of Goods Manufactured$10,810
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