accounting 494962

50000 70000 120000 180000 350000 280000 400000 300000 -170000 -100000 750000 730000 250000 210000 40000 10000 240000 240000 220000 270000 750000 730000 1200000 800000 250000 70000 30000 100000 14.5 80000 5000 40000 5000 198000 191250 Cash Accounts receivable (net) Merchandise inventory Property plant, & equipment Less: Accumulated depreciation Total assets Income taxes payable Common stock Retained earnings Total liabilities & stock, equity The firm’s accrual-basis income statement revealed the following data: Sales Cost of goods sold selling and administrative expenses Depreciation expense Income taxes (There was no interest expense.) Dividends declared and paid during 19X2 Machine Hours Current Product Fixed Factory Overhead Expansion Product (estimate) Direct Materials $1.30 per unit Variable Selling Expense Based on Chapter 5’s exercise 5 $4.00 per unit $2.80 per unit $0.20 per unit Fixed Selling expenses $5.60 per unit Direct labor dollars needed per product Total Fixed Costs: Variable Factory Overhead $1.00 per Machine Hour Selling Price ? ABC’s Product information ABC Company’s current financial information (before/without expansion) Units produced and expected to be sold Accounts payable ABC purchased $100,000 of equipment for cash on August 14. Dec. 31,20X2 Dec. 31,20X1 ????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????