Manufacturing Industry

Applying Managerial Accounting Concepts to the Manufacturing Industry (100 points)

Complete the following questions using Microsoft Excel. No other submission format is allowed. Review the grading rubric to confirm you are meeting the assignment requirements. (All amounts in SAR except units.)

Given the following information for Johnson Corporation:
Advertising costs 300,000
Office rent 20,000
Direct materials 850,000
Delivery vehicle depreciation 80,000
Factory repair and maintenance 425,000
Sales salary 505,000
Indirect labor 205,000
Manufacturing equipment depreciation 180,000
Administrative salaries 320,000
President’s salary 650,000
Sales revenue 5,400,000
Indirect materials 180,000
Direct labor 1,400,000
Machine hours 2,500
Direct labor hours 11,000
Machine hours per unit 3
Direct labor hours per unit 5
Direct materials per unit ?
Units manufactured 600
Units sold 350

Given the above information for Johnson Corporation:

  1. Create a list that identifies the total period costs.
  2. Calculate overhead per unit based on machine hours.
  3. Calculate the total product cost for units manufactured (“direct materials per unit”).
  4. Calculate total cost of goods sold.
  5. Prepare income statement in good form assuming no beginning inventory.

You must show all your work for credit.Required:

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