Option #2: Complete the Cost of Goods Manufactured Statement

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Option #2: Complete the Cost of Goods Manufactured Statement

The following costs and revenue pertain to the Swiss Chocolate Manufacturing Company, a U.S. producer of chocolate bars, for July 2015.

Swiss Chocolate Manufacturing Company

Jun-15

Jul-15

Raw materials inventory

$ 77,000

91,000

Work-in-process inventory

$ 73,500

70,000

Finished goods inventory

$ 63,000

80,500

Purchases of raw materials

$ 262,500

Direct manufacturing labor

87,500

Indirect manufacturing labor

52,500

Factory insurance

31,500

Depreciation — machinery and factory

38,500

Repairs and maintenance — factory

14,000

Selling, marketing and distribution expenses

40,000

General and administrative expenses

60,000

Revenues

$ 1,050,000

Requirements:

  1. Complete the cost of goods manufactured statement for Swiss Chocolate for July 2015.
  2. Complete the income statement for Swiss Chocolate (assume that the company incurs no interest financing costs and has a tax rate of 30%).
  3. Compute Swiss Chocolate’s gross profit margin and net profit margin for July 2015. Recall that the gross profit margin percentage = gross profit margin/revenue, and net profit margin = net profit margin/revenue.
  4. Swiss Chocolate’s closest publicly held competitor has a gross margin percentage of 50% and a net profit margin of 15%. Compare Swiss Chocolate’s performance for July 2015 to that of its competitor. What do you note regarding relative production cost and relative period costs in this comparison? Which company appeared to have performed better? Explain your answer.

In your analysis, include the following:

  1. An introduction
  2. Requirements 1 – 3 (do not forget to show your work)
  3. An assessment (Requirement #4)
  4. Conclusion

Your paper should meet the following requirements:

  • 3-4 pages in length including calculations (required number of pages does not include the title page and the reference page)

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