Determine the unit cost and preparation of income statement


Problem

The company Activa, SA, has the following operations in the month of March, so it wants to know the amount of its unit cost and its income statement:

During the month, 1,000 items were manufactured, of which 900 were sold at $500 each plus VAT, and 100 remained in the warehouse.

Finished articles To elaborate by product it is required:
10 kg of raw material
5 hours
Machinery depreciation is $6
The depreciation of the factory building is $11

The consumptions were the following:

The consumptions are: Indirect material $5,200, Indirect labor $10,500, Electricity of the month $4,250 and corresponds only to machinery

The payment of raw material in the month was 10,015 kg at $10.10 per kilo and labor was at $19.95 per hour

Administrative expenses were $70,000
Selling expenses of $80,000
Financial Expenses$13,500

It is requested to formulate the cost sheet and determine the unit cost and the preparation of the income statement corresponding to the month.

Request for Solution File

Ask an Expert for Answer!!
Cost Accounting: Determine the unit cost and preparation of income statement
Reference No:- TGS03333346

Expected delivery within 24 Hours