Cost Computations and Gross Profit Determination of a company

Cost Computations. The Kieinschmidt Manufacturing Company submits the following data on October 31, 19—: raw materials put into process, $42,300; direct labor is paid at the rate of $3.90 and $4.20 per hour in Departments A and B respectively; Department A worked 12,250 hours and Department B reported 19,750 hours. Factory overhead is applied on the basis of direct labor hours at the rate of $2.50 per hour in Department A and $2.10 per hour in Department B.

Inventories
                                                        Oct. 1                  Oct. 31
Raw materials                                   $15,000              $19,200
Work in process                                 17,300                19,425
Finished goods                                   11,300                   9.400
Required: Without preparing a formal income statement
(a) Total costs put into process.
(b) Cost of goods manufactured.
(c) Cost of goods sold.

Gross Profit Determination. The Gary-Elliott Corporation manufactures a kitchen appliance to sell for $280. Last year the company sold 2,000 of these appliances, realizing a gross profit that amounted to 25% of the cost of goods sold. Of this total cost of goods sold, materials accounted for 40% of the total and factory overhead for 15%. - ui - ^5 ''/- During the coming year it is expected that materials and labor costs will each increase 25% per unit and that factory overhead will increase 12V2% per unit. 

To meet these rising costs, a new selling price has to be set. Required: The number of units that must be sold to realize the same total gross profit in the coming year as realized last year if the new selling price is set at (1) $300; (2) $325; (3) $350.