Lily Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date Number of Units Unit Price May 7 50 $11 July 28 30 15 On June 1, Lily sold 20 units, and on August 27, 40 more units. Collapse question part (a)
Prepare the perpetual inventory schedule for the above transactions using FIFO.
(Round answers to 0 decimal places, e. g. 1,250.) Product E2-D2 Date Purchases Cost of Goods Sold Balance
May 7 550
June 1 220
July 28 450
Aug. 27 600

Miller company’s total sales are $171,000. the company’s direct labor cost is $20,520, which represents 30% of its total conversion cost and 40% of its total prime cost. its total selling and administrative expense is $25,650 and its only variable selling and administrative expense is a sales commission of 5% of sales. the company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. required: 1. what is the total manufacturing overhead cost? 2. what is the total direct materials cost? 3. what is the total manufacturing cost? 4. what is the total variable selling and administrative cost? 5. what is the total variable cost? 6. what is the total fixed cost? 7. what is the total contribution margin?