Analyze a Public Corporation History, Products, and Income Statement

Assignment Task

Choose a major publicly traded corporation, then go to the corporation's site and retrieve the information needed for this assignment.

• Provide information about the history of the corporation and its current product offerings.
• Provide a screenshot of the corporate's latest reported income statement.
• Organize the income statement in an Excel file to enable you to verify the arithmetic in the income statement, and explain your verifications.
• Also, explain the nature of each item in the income statement.

Read your textbook and other peer-reviewed publications, write a minimum of three (3) pages of high quality well-written APA formatted standard about the following scenario. Please keep in mind that this assignment is quantitative, therefore do not forget to use the figures and charts.

Information for the Hi-Test company's production process for September follows. Assume that all materials are added at the beginning of this production process, and that conversion costs are added uniformly throughout the process.

Work in process inventory, September 1 (2,000 units, 100% complete with respect to direct materials, 80% complete with respect to direct labor and overhead; consists of $45,000 of direct materials cost and $56,320 conversion cost) - $101,320

Costsincurred in September

Direct materials - $375,000

Conversion - $341,000

Work in process inventory, September 30 (7,000 units, 100% complete with respect
to direct materials, 40% complete with respect to conversion.$ ?

Units started in September - 28,000

Units completed and transferred to finished goods inventory - 23000

Compute each of the following.

1. The number of equivalent units for materials for the month.

2. The number of equivalent units for conversion for the month.

3. The variable cost per equivalent unit of materials for the month.

4. The variable cost per equivalent unit for conversion for the month.

5. The total variable cost of goods transferred out.

6. The total variable cost of ending work in process inventory.

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