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Road Warrior Corporation began operations. During year company started an completed 50 motor homes at a cost of 60,000 per unit. Of these, 48 were sold for 100,000 each and two remain in finished goods inventory. In addition, the company had 6 partially completed units in its factory at year-end. Total cost per year were as follows.
Direct Materials used $760,000
Direct Labor $862,000
Income tax expense $100,000
General and Administrative expenses $500,000
Manufacturing overhead: $1,510,000
Selling Expenses: $500,000
Compute the following:
(Total Manufacturing cost)/(Cost of finished goods manufactured)/(Cost of Goods Sold)/(Gross profit on sales)/(Ending Inventory of Work In Progress)/(Ending Inventory of Finished Goods)
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