eBookInventory$5,000$4,90065,00029,000230,000frozeIncome StatementPietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 54,100 units will be produced, with the following total costs:Direct materialsDirect laborVariable overheadFixed overheadNext year, Pietro expects to purchase $120,500 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows:Direct materialsnirxas. Fen pizzesWork-in-ProcessInventory$14,000$16,000BeginningEndingNext year, Pietro expects to produce 54,100 units and sell 53,400 units at a price of $18.00 each. Beginning inventory of finished goods is $42,500, and ending inventoryof finished goods is expected to be $34,000. Total selling expense is projected at $27,000, and total administrative expense is projected at $108,000.Required:erat.Continno Ing.1. Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For example, 88349 would be rounded to.8835 and entered as 88.35.Note: due to rounding, percentages may not add down.Pietro Frozen Foods, Inc.Income StatementFor the Coming Year Required:is experie w $3,000, total setting expense is projected at $27,000, and total administrative expense is projected at $100,000.1. Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For example, .88349 would be rounded to8835 and entered as 88.35.Note: due to rounding, percentages may not add down.Pietro Frozen Foods, Inc.Income StatementFor the Coming YearLess operating expenses:Percent%%196%2. What if the cost of goods sold percentage for the past few years was 43.93 percent? Management's reaction might be:

Total Manufacturing Cost = Direct Material + Direct Labour + Factory Overheads Cost of Goods…

Income Statement Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 54,100 units will be produced, with the following total costs: Direct materials 2 Direct labor Variable overhead Fixed overhead Next year, Pietro expects to purchase $120,500 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Direct materials Beginning Ending tras. 65,000 29,000 230,000 Inventory $5,000 $4,900 en pizzes Work-in-Process Inventory $14,000 $16,000 Next year, Pietro expects to produce 54,100 units and sell 53,400 units at a price of $18.00 each. Beginning inventory of finished goods is $42,500, and ending inventor of finished goods is expected to be $34,000. Total selling expense is projected at $27,000, and total administrative expense is projected at $108,000. Required: 1. Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For example, .88349 would be rounded to 8835 and entered as 88.35. Note: due to rounding, percentages may not add down. Pietro Frozen Foods, Inc. Income Statement Enr the Coming Year

Income Statement Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 54,100 units will be produced, with the following total costs: Direct materials 2 Direct labor Variable overhead Fixed overhead Next year, Pietro expects to purchase $120,500 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Direct materials Beginning Ending tras. 65,000 29,000 230,000 Inventory $5,000 $4,900 en pizzes Work-in-Process Inventory $14,000 $16,000 Next year, Pietro expects to produce 54,100 units and sell 53,400 units at a price of $18.00 each. Beginning inventory of finished goods is $42,500, and ending inventor of finished goods is expected to be $34,000. Total selling expense is projected at $27,000, and total administrative expense is projected at $108,000. Required: 1. Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For example, .88349 would be rounded to 8835 and entered as 88.35. Note: due to rounding, percentages may not add down. Pietro Frozen Foods, Inc. Income Statement Enr the Coming Year

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 4CE: Refer to Cornerstone Exercises 2.2 and 2.3. Next year, Pietro expects to produce 50,000 units and...

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