Magnify Corporation Manufactures And Sells Two Types Of Decorative Lamps Knox And Ayer The Following Data Are Availabl 1 (20.73 KiB) Viewed 45 times
Magnify Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2020. Click the icon to view the information.) Calculate (1) the cost of goods sold budget (label it Schedule 7) (2) the operating (nonmanufacturing) costs budget (label it Schedule 8) and (3) the operating income budget for the year ending December 31, 2020. (1). Begin by calculating (1) the cost of goods sold budget (label it Schedule 7) for the year ending December 31, 2020 Schedule 7: Cost of Goods Sold Budget for the Year Ending December 31, 2020
- Х Data table S Revenues Beginning inventory of finished goods (1-1-2020) Ending inventory of finished goods, 12-31-2020 Direct materials used Direct manufacturing labor Manufacturing overhead Variable marketing costs (6% of revenues) Fixed marketing costs Variable distribution costs ($1.00 per cu.ft. for 26,000 cu. ft.) Fixed distribution costs Fixed administration costs 1,036,200 49,310 32,225 242,000 45,150 207,400 44,000 46,000 80,000
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