ABC began business in January 2009. The firm makes anexercise machine for home and gym use. Following are data takenfrom the firm's accounting records that pertain to its firstmonth of operations. Direct material purchased onaccount $ 900,000 Direct material issued toproduction 377,000
Direct labor payrollaccrued 126,800
Indirect labor payrollpaid 40,600
Factory insuranceexpired 6,000
Factory utilitiespaid 17,800
Factory depreciationrecorded 230,300
Ending Work in ProcessInventory 51,000
Ending Finished Goods Inventory (30units) 97,500
Sales on account ($5,200 perunit) 1,040,000
a. How manyunits did the company sell in January 2009?
b. How many unitswere completed in January 2009?
c. What was theper-unit cost of goods manufactured for the month?
d. What was the costof goods sold in the first month of operations?
e. What was the grossmargin (in dollars) for July 2009?