Complete the Cost of Goods Manufactured StatementThe 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:
Complete the cost of goods manufactured statement for Swiss Chocolate for July 2015.
Complete the income statement for Swiss Chocolate (assume that the company incurs no interest financing costs and has a tax rate of 30%).
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.
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.
Your paper should meet the following requirements:
3-4 pages in length including calculations
Use APA Format, with in text citations
Include at least three outside sources

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