Brighter Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The are available for the year 2017. E (Click the icon to view the information.) Calculate (1) the cost of goods sold budget (label it Schedule 7) (2) the nonmanufacturing c it Schedule 8) and (3) the operating income budget for the year ending December 31, 2017. (1). Begin by calculating (1) the cost of goods sold budget (label it Schedule 7) for the year ending December 31, 2017. Schedule 7: Cost of Goods Sold Budget for the Year Ending December 31, 2017 Data Table Revenues %24 1,039,400 Beginning inventory of finished goods (1-1-2017) 88,440 Ending inventory of finished goods, 12-31-2017 66,780 Direct materials used 417,000 Direct manufacturing labor 120,900 Manufacturing overhead 137,450 Variable marketing costs (5% of revenues) Fixed marketing costs 45,000 Variable distribution costs ($0.50 per cu. ft. for 28,000 cu. ft.) Fixed distribution costs 47,000 Fixed administration costs 78,000 Print Done

Brighter Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The are available for the year 2017. E (Click the icon to view the information.) Calculate (1) the cost of goods sold budget (label it Schedule 7) (2) the nonmanufacturing c it Schedule 8) and (3) the operating income budget for the year ending December 31, 2017. (1). Begin by calculating (1) the cost of goods sold budget (label it Schedule 7) for the year ending December 31, 2017. Schedule 7: Cost of Goods Sold Budget for the Year Ending December 31, 2017 Data Table Revenues %24 1,039,400 Beginning inventory of finished goods (1-1-2017) 88,440 Ending inventory of finished goods, 12-31-2017 66,780 Direct materials used 417,000 Direct manufacturing labor 120,900 Manufacturing overhead 137,450 Variable marketing costs (5% of revenues) Fixed marketing costs 45,000 Variable distribution costs ($0.50 per cu. ft. for 28,000 cu. ft.) Fixed distribution costs 47,000 Fixed administration costs 78,000 Print Done

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 5E: Prepare a cost of goods sold budget for MacLaren Manufacturing Inc. for the year ended December 31,...

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