Hello, Need this in word, same book, step by step.


Question Description:

35

Hello, Need this in word, same book, step by step. 2 pages Final cost information wk5.xlsx ABC Company’s current financial information (before/without expansion) Dec. 31,20X2 Dec. 31,20X1 Cash $ 50,000 $ 70,000 Accounts receivable (net) $ 120,000 $ 180,000 Merchandise inventory $ 350,000 $ 280,000 Property plant, & equipment $ 400,000 $ 300,000 Less: Accumulated $ (170,000) $ (100,000) depreciation Total assets $ 750,000 $ 730,000 Accounts payable $ 250,000 $ 210,000 Income taxes payable $ 40,000 $ 10,000 Common stock $ 240,000 $ 240,000 Retained earnings $ 220,000 $ 270,000 Total liabilities & stock, $ 750,000 $ 730,000 equity The firm’s accrual-basis income statement revealed the following data: Sales $ 1,200,000 Cost of goods sold $ 800,000 selling and administrative expenses $ 250,000 Depreciation expense $ 70,000 Income taxes $ 30,000 Dividends declared and paid during 20X2 $ 100,000 ABC purchased $100,000 of equipment for cash on August 14, 20X2 (There was no interest expense.) Based on Chapter 5’s exercise 5 ABC’s Product information Current Product $14.50 Selling Price Units produced and expected to be sold Machine Hours Direct Materials Direct labor dollars needed per product Variable Factory Overhead Variable Selling Expense Total Fixed Costs: Fixed Factory Overhead Fixed Selling expenses Expansion Product (estimate) ? 80,000 40,000 $1.30 per unit $2.80 per unit $1.00 per Machine Hour $0.20 per unit $ $ 198,000 191,250 5,000 5,000 $5.60 per unit $4.00 per unit $1.00 per Machine Hour $0.20 per unit Read more

Answer

35