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Office salaries $25,000 Advertising expense $13,000 Materials inventory, Jan $39,000 11 Direct labor $30,000 Materials inventUse the above information to answer questions 7-9 Cook Co. reports the above information for January. Determine the cost of m$17,000 Factory rent Determine the cost of goods sold (COGS) for January. $94,000 $78,000 $76,000 $80,000 Question 917 pointsFactory rent Compute the unit cost for January (round to 2 decimal places): $14.11 $14.64 $14.82 $13.93

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Answer #1
Answer to Question 1 Raw materials consumed is $ 17000
COMPUTATION OF COST OF MATERIAL UNSED IN JANUARY
PARTICULARS AMT $
Opening inventory of raw materials jan $            39,000.00
Add: Purchases $            16,000.00
Less: Closing inventory of raw materials 31 jan $            38,000.00
Raw materials consumed $            17,000.00
Answer to Question 2 is Cost of goods sold $80000
COMPUTATION OF COST OF GOODS SOLD IN JANUARY
PARTICULARS AMT $
Direct materials cost incurred during the period $            17,000.00
Add :Direct labor cost incurred during the period $            30,000.00
Add : Manufacturing overheads cost incurred during jan $            35,000.00
Total manufacturing costs for the period $            82,000.00
Add :Cost of work in progress at the 1 jan $            12,000.00
Less : Cost of work in progress at the 31 jan $            16,000.00
Cost of goods manufactured during the period $            78,000.00
Add : Cost of finished goods inventory at the 1 jan $            24,000.00
Cost of goods available for sale $         1,02,000.00
Less : Cost of finished goods inventory at the 31 jan $            22,000.00
Cost of goods sold $            80,000.00
Answer to Question 3 units cost is $14.64
COMPUTATION OF COST OF GOODS SOLD IN JANUARY
PARTICULARS AMT $
Total manufacturing costs Jan $            82,000.00
No of units completed                         5,600
Units Cost ($35000/5600) $                     14.64
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