not understanding how to this.

not understanding how to this.

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Problem 1
(25 points)
Purchases of raw materials
$
120,000.00
Raw materials available for use
$
148,000.00
Cost of direct raw materials used
$
124,000.00
Manufacturing overhead
$
24,000.00
Total manufacturing costs
$
310,000.00
Ending work-in-process inventory
$
(46,000.00)
Cost of goods manufactured
$
306,000.00
Schedule of Cost of Goods Manufactured
Beginning inventory, raw materials
Plus: Purchases of raw materials
Raw materials available for use
$

Less: Ending raw materials inventory
Cost of direct raw materials used
$

Direct labor
Manufacturing overhead
Total manufacturing costs
$

Plus: Beginning work-in-process inventory
Total work in process
$

Less: Ending work-in-process inventory
Cost of goods manufactured
$

Required:
Use the following informa±on to complete the below
schedule of cost of goods manufactured.

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Problem 2
(25 points)
Break-even point in units
Fixed Costs
ContribuTon margin per unit
Break-even point in dollars
Break-even point in units * selling price
Required:
JZ is a musician who is considering whether to independently produce and
sell a CD. JZ esTmates fxed costs o± $10,000 and variable costs o± $4.00 per unit. ²he
expected selling price is $12 per CD. What is JZ’s break-even point in units and dollars?

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