The Following Cost and Inventory Data Were Taken from the Records

question 39

Essay

The following cost and inventory data were taken from the records of the Flagstaff Company for the year:
$\begin{array}{lr}\text { Costs incurred:}\\\text { Depreciation, factory equipment}&\$ 30,000\\\text {Depreciation, office equipment}&7,000\\\text {Supplies, factory}&1,500\\\text {Maintenance, factory equipment}&20,000\\\text {Utilities, factory}&8,000\\\text { Sales commissions } & 30,000 \\\text { Indirect labor } & 54,500 \\\text { Rent, factory building } & 70,000 \\\text { Purchases of direct materials (net) } & 124,000 \\\text { Direct labor } & 80,000 \\\text { Advertising expense } & 90,000\end{array}$
Inventories:
$$\begin{array} { l r r } & \text { January } 1 & \text { December } 31 \\\text { Direct materials } & \$ 9,000 & \$ 11,000 \\\text { Work in process } & 6,000 & 21,000 \\\text { Finished goods } & 69,000 & 24,000\end{array}$$
Required:
(a) Compute the cost of goods manufactured.
(b) Compute the cost of goods sold.

Understand the methods for allocating expenses between personal and rental use of a property.

Understand different leadership styles including authority compliance, team, country club, and impoverished leadership.

Identify and differentiate between task behaviors and relationship behaviors in a work setting.

Grasp the concept of paternalism/maternalism in leadership.

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Definitions:

Political Party

An organized group of people with similar political aims and opinions, seeking to influence public policy by getting its candidates elected to public office.

Enabling Statutes

Laws that provide the legal framework and authority for government agencies or bodies to implement regulations and actions.

Administrative Statutes

Laws established by government agencies that detail how the agencies are to administer and enforce the laws passed by the legislature.

Federal Administration Statutes

refers to laws enacted by the federal government that govern the organization, functions, and actions of federal agencies and administrative bodies.