Required:1) Calculate the raw material used by Pro-Leather Company.2) Calculate the indirect materials used by Pro-Leather Company3) What is the total manufacturing overhead cost incurred by Pro-Leather Company during the period?4) Determine the prime cost & conversion cost of the cases manufactured.5) Prepare a schedule of cost of goods manufactured for the year ended December 31, 2020, clearly showing total manufacturing cost & total manufacturing costs to account for.6) Prepare an income statement for Pro-Leather Company for the year ended December 31, 2020. List the non-manufacturing overheads in order of size starting with the largest.7) What is the factory cost per case if Pro-Leather manufactured 19,200 cases for tablets for the year?8) How does the format of the income statement for a manufacturing concern differ from the income statement of a merchandising entity?thank you very much ll bmobile6:44 PMO 177%Question:Pro-Leather Company is a manufacturer of leather cases for tablets. Thefollowing information pertains to operations during the 2020 calendar year.Sales Revenue$14,275,000Direct Factory Labor3,952,600Indirect Factory Labor1,232,250Total Depreciation400,000Total Utilities525,000Distribution & Customer Service Costs76,800Insurance on Plant & Equipment585,000Property Taxes90,000Administrative Wages & Salaries1,076,000Advertising Expenses57,700Sales Commission6% of Sales Revenue1) Of the total depreciation, 80% relates to factory plant & equipment and20% relates to general and administrative costs2) Of the total utilities, 75% relates to production and 25% relates to generaland administrative costs.3) The property taxes should be shared: 85% production & 15% general &administrative costsThe following additional information is also available:Inventory Data:1/1/2020Purchases31/12/2020Raw Materials$750,000$4,330,000$807,000Indirect Materials55,000320,00071,500Work in Progress1,115,400n/a924,000Finished Goods1,142,600n/a1,720,200

Required: 1) Calculate the raw material used by Pro-Leather Company. 2) Calculate the indirect materials used by Pro-Leather Company 3) What is the total manufacturing overhead cost incurred by Pro-Leather Company during the period? 4) Determine the prime cost & conversion cost of the cases manufactured. 5) Prepare a schedule of cost of goods manufactured for the year ended December 31, 2020, clearly showing total manufacturing cost & total manufacturing costs to account for. 6) Prepare an income statement for Pro-Leather Company for the year ended December 31, 2020. List the non-manufacturing overheads in order of size starting with the largest. 7) What is the factory cost per case if Pro-Leather manufactured 19,200 cases for tablets for the year? 8) How does the format of the income statement for a manufacturing concern differ from the income statement of a merchandising entity? thank you very much

Required: 1) Calculate the raw material used by Pro-Leather Company. 2) Calculate the indirect materials used by Pro-Leather Company 3) What is the total manufacturing overhead cost incurred by Pro-Leather Company during the period? 4) Determine the prime cost & conversion cost of the cases manufactured. 5) Prepare a schedule of cost of goods manufactured for the year ended December 31, 2020, clearly showing total manufacturing cost & total manufacturing costs to account for. 6) Prepare an income statement for Pro-Leather Company for the year ended December 31, 2020. List the non-manufacturing overheads in order of size starting with the largest. 7) What is the factory cost per case if Pro-Leather manufactured 19,200 cases for tablets for the year? 8) How does the format of the income statement for a manufacturing concern differ from the income statement of a merchandising entity? thank you very much

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 8MC: What is the conversion cost to manufacture insulated travel cups if the costs are: direct materials,...

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G 1. Compute the companys deg X Connect tent A https://ezto.mheducation.com/ext/map/index.html?_con%3Dcon&external_browser=0&l Saved napter 05 Hudson Co. reports the contribution margin income statement for 2019. HUDSON CO. Contribution Margin Income Statement For Year Ended December 31, 2019 Sales (9,600 units at $225 each) Variable costs (9,600 units at $180 each) Contribution margin Fixed costs $2,160,000 1,728,000 $432,000 324,000 Pretax income $ 108,000 1. Compute the company's degree of operating leverage for 2019. 2. If sales decrease by 5% in 2020, what will be the company's pretax income? 3. Assume sales for 2020 decrease by 5%. Prepare a contribution margin income statement for 2020. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the company's degree of operating leverage for 2019. Degree of operating leverage 3.0 ост 20 W
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ssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator=&inprogress=false E Calculator Park and West, LLC, provides consulting services to retail merchandisers in the Midwest. In 2019, they generated $722,000 in service revenue. Their total cost (fixed and variable) per client was $2,400 and they served 105 clients during the year. If operating expenses for the year were $302,000 what was their net income? Park and West, LLC Income Statement For Year Ending 2019 Previous Next Submit Test for Grading Email Instructor All work saved. 5:19 PM 10/2/2020
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