Income statement, cost of goods manufactured spencer company produced 200,000 cases of sports drinks during the past calendar year. each case of 1-liter bottles sells for $36. spencer had 2,500 cases of sports drinks in finished goods inventory at the beginning of the year. at the end of the year, there were 11,500 cases of sports drinks in finished goods inventory. spencer’s accounting records provide the following information: purchases of direct materials $2,350,000 direct materials inventory, january 1 290,000 direct materials inventory, december 31 112,000 direct labor 1,100,000 indirect labor 334,000 depreciation, factory building 525,000 depreciation, factory equipment 416,000 property taxes on factory 65,000 utilities, factory 150,000 insurance on factory 200,000 salary, sales supervisor 85,000 commissions, salespersons 216,000 advertising 500,000 general administration 390,000 work-in-process inventory, january 1 450,000 work-in-process inventory, december 31 750,000 finished goods inventory, january 1 107,500 finished goods inventory, december 31 488,750 required: 1. prepare a cost of goods manufactured statement.

Instructions are listed below.

Explanation:

Giving the following information:

Spencer’s accounting records provide the following information:

Direct material:

Purchases of direct materials $2,350,000

Direct materials inventory, January 1: 290,000

Direct materials inventory, December 31: (112,000)

Direct material used= 2,528,000

Direct labor 1,100,000

Manufacturing overhead:

Indirect labor 334,000

Depreciation, factory building 525,000

Depreciation, factory equipment 416,000

Property taxes on factory 65,000

Utilities, factory 150,000

Insurance on factory 200,000

Total= 1,690,000

Work-in-process inventory, January 1: 450,000

Work-in-process inventory, December 31: 750,000

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 450,000 + 2,528,000 + 1,100,000 + 1,690,000 - 750,000= 5,018,000

ans.

heterothermic organisms include those organisms that can switch between homeothermic (having body temperature higher than environment) and poikilothermic (having variation in internal body temperature) strategies.

some migratory birds show heterothermy as they decrease their metabolic rate during cold nights to keep their body temperature low. drop in metabolic rate allows increase in production efficiency of birds that reduces the internal body temperature to make it equal to external cold temperature during cold nights.

thus, the correct answer is 'birds allow their temperature drop in order to increase their production efficiency.'