Helmer Sporting Goods Company Manufactured 100,000 Units in 2015 and Reported

Essay

Helmer Sporting Goods Company manufactured 100,000 units in 2015 and reported the following costs:
$$\begin{array} { l r l r } \text { Sandpaper } & \$ 32,000 & \text { Leasing costs-plant } & \$ 384,000 \\\text { Materials handling } & 320,000 & \text { Depreciation-quipment } & 224,000 \\\text { Coolants \& lubricants } & 22,400 & \text { Property taxes-equipment } & 32,000 \\\text { Indirect manufacturing labor } & 275,200 & \text { Fire insurance-equipment } & 16,000 \\\text { Direct manufacturing labor } & 2,176,000 & \text { Direct material purchases } & 3,136,000 \\\text { Direct materials, } 1 / 1 / 15 & 384,000 & \text { Direct materials, } 12 / 31 / 15 & 275,200 \\\text { Finished goods, } 1 / 1 / 15 & 672,000 & \text { Sales revenue } & 12,800,000 \\\text { Finished goods, } 12 / 31 / 15 & 1,280,000 & \text { Sales commissions } & 640,000 \\\text { Work-in-process, } 1 / 1 / 15 & 96,000 & \text { Sales salaries } & 576,000 \\\text { Work-in-process, } 12 / 31 / 15 & 64,000 & \text { Advertising costs } & 480,000 \\& & \text { Administration costs } & 800,000\end{array}$$ Required:
a.What is the amount of direct materials used during 2015?
b.What manufacturing costs were added to WIP during 2015?
c.What is cost of goods manufactured for 2015?
d.What is cost of goods sold for 2015?