# ACCOUNTING

## ACCOUNTING

Quiz Chapter 10
Exercise 13-38
Product Cost in Total and Per Unit
Grin Company manufactures digital cameras. In January, Grin produced 4,000
cameras with the following costs: Direct materials, \$400,000; Direct labor,
There were no beginning or ending inventories of WIP.
Refer to the information for Grin Company above.
1. What was total product cost in January?
\$
2. What was product cost per unit in January?
\$

Exercise 13-39
Prime Cost and Conversion Cost
Grin Company manufactures digital cameras. In January, Grin produced 4,000
cameras with the following costs: Direct materials, \$400,000; Direct labor,
There were no beginning or ending inventories of WIP.
Refer to the information for Grin Company above.
3. What
\$
4. What
\$
5. What
\$
6. What
\$

was the total prime cost in January?
was the prime cost per unit in January?
was the total conversion cost in January?
was the conversion cost per unit in January?

Exercise 13-44
Cost of Goods Sold, Sales Revenue, Income Statement
Jasper Company provided the following information for last year:

Last year, beginning and ending inventories of work in process and finished goods
equaled zero.
Refer to the information for Jasper Company above.
Calculate the cost of goods sold for last year.
\$

Exercise 13-45
Income Statement
Jasper Company provided the following information for last year:

Last year, beginning and ending inventories of work in process and finished goods
equaled zero.
Refer to the information for Jasper Company above.
1. Calculate the sales revenue for last year.
\$

2. Prepare an income statement for Jasper Company for last year.

Jasper Company
Income Statement
For the Last Year
\$

2700000

Sales revenue
690000
Cost of goods sold
\$

2010000

Gross profit
Less:
437000
Selling expense
854000