The Following Table Summarizes the Beginning and Ending Inventories of Ariel

question 41

Essay

The following table summarizes the beginning and ending inventories of Ariel Co.for the month of October:
$$\begin{array} { l r r } & \text { Sept. 30 } & \text { Oct. 31 } \\\text { Raw materials } & \$ 29,700 & \$ 31,000 \\\text { Work-in-process } & 65,800 & 61,000 \\\text { Finished process } & 52,700 & 46,200\end{array}$$
Raw materials purchased during the month of October totaled $112,300.Direct labor costs incurred totaled $234,800 for the month.Actual and applied manufacturing overhead costs for October totaled $145,100 and $149,400, respectively.
(a)Calculate the cost of goods manufactured for October.
(b)Calculate the cost of goods sold for October (Ignore under/overapplied overhead).
(c)Given the fact that 25,000 units were produced, what is the cost per unit for October?

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Definitions:

Voting Stock

Stocks that provide the holder with voting privileges regarding corporate policies and electing the board members.

Cash Dividend

A distribution of a company's earnings to its shareholders in the form of cash.

Passive Investment

An investment strategy involving minimal buying and selling actions, typically focused on long-term gains and avoiding frequent trading.

Common Stock

A type of security that represents ownership in a corporation and grants shareholders voting rights and a share in the company's profits through dividends.