Answer :
The company makes industrial cleaning solvents. various chemicals, detergent, and water are mixed together and then bottled in 10-gallon drums. Brody provided the following information for last year: Raw materials purchases $250,000.
Some samples of strong cleaning solvents are acetone, methyl ethyl ketone, toluene, nPB, and trichloroethylene (TCE). Common mild solvents include isopropanol, glycerin, and antifreeze. Industrial cleaning chemically may be a specialized process that needs in-depth knowledge of chemical compounds and their reaction to certain surfaces and stains.
Chemical-based cleaning is employed to get rid of stubborn stains and other wastes commonly found in industrial cleaning services. Although cleaners that contain solvents vary widely in terms of applications and effects, most industrial solvent-based cleaners are made up of one among three styles of solvents: oxygenated, hydrocarbon, and halogenated.
Below, we glance at their basic characteristics to assist inform your cleaner purchase. There are two forms of solvents : organic solvents and inorganic solvents. Inorganic solvents are those solvents which don't contain carbon like water, ammonia whereas organic solvents are those solvents which contain carbon and oxygen in their composition like alcohols, glycol ethers.
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Complete Question: Brody Company makes industrial cleaning solvents. Various chemicals, detergent, and water are mixed together and then bottled in 10-gallon drums. Brody provided the following information OBJECT for last year:Raw materials purchases Direct labor Depreciation on factory equipment Depreciation on building Depreciation on headquarters building Factory insurance Property taxes: Factory Headquarters Utilities for factory Utilities for sales office Administrative salaries Indirect labor salaries Sales office salaries Beginning balance, raw materials Beginning balance, work in process Beginning balance, finished goods Ending balance, raw materials Ending balance, work in process Ending balance, finished goods $250,000 140,000 45,000 30,000 50,000 15,000 20,000 18,000 34,000 1,800 150,000 156,000 90,000 124,000 124,000 84,000 102,000 130,000 82,000Last year, Brody completed 100,000 units. Sales revenue equaled $1,200,000, and Brody paid a sales commission of 5 percent of sales.
1. Calculate the direct materials used in production for last year.
2. Calculate total prime cost.
3. Calculate total conversion cost.
4. Prepare a cost of goods manufactured statement for last year. Calculate the unit product cost.
5. Prepare a cost of goods sold statement for last year.6. Prepare an income statement for last year. Show the percentage of sales that each line item represents.