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1. Madlem, Inc., produces and sells a single product whose selling price is $240.00 per unit and whose variable expense is $86.40 per unit. The company’s fixed expense is $720,384 per month. Required: Determine the monthly break-even in either unit or total dollar sales. Show your work! 2.Carter Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below. Work in process, beginning: Units in beginning work-in-process inventory 400 Materials costs $6,900 Conversion costs $2,500 Percentage complete for materials 80% Percentage complete for conversion 15% Units started into production during the month 6,000 Units transferred to the next department during the month 5,800 Materials costs added during the month $112,500 Conversion costs added during the month $210,300 Ending work in process: Units in ending work-in-process inventory 1,400 Percentage complete for materials 70% Percentage complete for conversion 40% Required: Calculate the equivalent units for materials (using the weighted-average method) for the month in the first processing department 3(TCO A) The following data (in thousands of dollars) have been taken from the accounting records of the Maroon Corporation for the just-completed year. Sales 1,150 Raw materials inventory, beginning 15 Raw materials inventory, ending 40 Purchases of raw materials 150 Direct labor 250 Manufacturing overhead 300 Administrative expenses 500 Selling expenses 300 Work in process inventory, beginning 100 Work in process inventory, ending 150 Finished goods inventory, beginning 80 Finished goods inventory, ending 120 Use the above data to prepare (in thousands of dollars) a schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold for the year. In addition, what is the impact on the financial statements if the ending finished goods inventory is overstated or understated?

1. Madlem, Inc., produces and sells a single product whose selling price is $240.00 per unit and whose variable expense is $86.40 per unit. The company’s fixed expense is $720,384 per month.

Required:

Determine the monthly break-even in either unit or total dollar sales. Show your work!

2.Carter Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below.

Work in process, beginning:
Units in beginning work-in-process inventory 400
Materials costs $6,900
Conversion costs $2,500
Percentage complete for materials 80%
Percentage complete for conversion 15%
Units started into production during the month 6,000
Units transferred to the next department during the month 5,800
Materials costs added during the month $112,500
Conversion costs added during the month $210,300
Ending work in process:
Units in ending work-in-process inventory 1,400
Percentage complete for materials 70%
Percentage complete for conversion 40%

Required: Calculate the equivalent units for materials (using the weighted-average method) for the month in the first processing department

3(TCO A) The following data (in thousands of dollars) have been taken from the accounting records of the Maroon Corporation for the just-completed year.

Sales 1,150
Raw materials inventory, beginning 15
Raw materials inventory, ending 40
Purchases of raw materials 150
Direct labor 250
Manufacturing overhead 300
Administrative expenses 500
Selling expenses 300
Work in process inventory, beginning 100
Work in process inventory, ending 150
Finished goods inventory, beginning 80
Finished goods inventory, ending 120

Use the above data to prepare (in thousands of dollars) a schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold for the year. In addition, what is the impact on the financial statements if the ending finished goods inventory is overstated or understated?

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