Question 4:
Hello Manufacturing Systems Pty Ltd provides the following
information:
Administrative salaries
Advertising expense
Direct...
Question 4:
Hello Manufacturing Systems Pty Ltd provides the following
information:
Administrative salaries
Advertising expense
Direct labour
Factory depreciation
Finished goods, 1 July 2015
$ 120 000
2 000
23 000
8 000
23 000
Finished goods, 30 June 2016
10 000
Income tax expense
30% of income before Profit
Indirect labour
20 000
Materials inventory, 1 July 2015
42 000
Materials inventory, 30 June 2016
36 000
Materials purchased
15 000
Sales
208 000
Work in process, 1 July 2015...
From the following data, prepare a statement of cost of goods
manufactured for the year ended...
From the following data, prepare a statement of cost of goods
manufactured for the year ended June 30, 2019:
Factory
depreciation.................................................... $
12,000
Direct materials
issued............................................... $ 50,000
Direct
labor......................................................................
$ 80,000
Indirect
labor...................................................................
$ 42,000
Sales
salaries...................................................................
$ 48,000
Factory supplies
used.................................................. $
5,000
Factory
utilities.............................................................
$ 24,000
Factory property
taxes............................................... $
11,000
Work in process inventory on July 1, 2018........ $ 22,000
Work in process inventory on June 30, 2019.... $
24,000
Finished goods inventory on July 1,...
The following data were taken from the records of Bramble
Company for the fiscal year ended...
The following data were taken from the records of Bramble
Company for the fiscal year ended June 30, 2020.
Raw Materials Inventory 7/1/19
$48,900
Factory Insurance
$5,100
Raw Materials Inventory 6/30/20
46,900
Factory Machinery Depreciation
18,000
Finished Goods Inventory 7/1/19
97,700
Factory Utilities
30,000
Finished Goods Inventory 6/30/20
21,600
Office Utilities Expense
9,350
Work in Process Inventory 7/1/19
25,200
Sales Revenue
558,900
Work in Process Inventory 6/30/20
23,700
Sales Discounts
5,000
Direct Labor
142,050
Plant Manager’s Salary
65,200
Indirect Labor...
The following account balances and other information are from
SUNN Corporation’s accounting records for year-end December...
The following account balances and other information are from
SUNN Corporation’s accounting records for year-end December 31
2019.
Use this information to prepare a (A) table listing factory
overhead costs, (B) a schedule of cost of goods manufactured and
(C) an Income statement.
Inventories :
$’000
$’000
Finished goods inventory Dec. 31 2018
Finished goods inventory Dec. 31 2019
15,000
12,500
Sales
1,750,000
Work in process inventory Dec. 31 2018
Work in process inventory Dec. 31 2019
8,000
9,000
Depreciation...
1.
Raw Materials Inventory, Jan 1 $75,000
Raw Materials Inventory, Dec 31 $30,000
Work in Process...
1.
Raw Materials Inventory, Jan 1 $75,000
Raw Materials Inventory, Dec 31 $30,000
Work in Process Inventory, Jan 1 $105,000
Work in Process Inventory, Dec 31 $75,000
Finished Goods Inventory, Jan 1 $25,000
Finished Goods Inventory, Dec 31 $130,000
Material Purchases $65,000
Direct Labor $150,000
Indirect Labor $10,000
Factory Utilities $25,000
Factory Supplies $5,000
Factory Rent $95,000
Depreciation on Office Building $15,000
a. Direct Materials Used
b. Factory Overhead
c. Cost of Goods Manufactured
d. Cost of Goods Sold
1.Manufacturing costs are typically classified as Select one: a.
direct materials or direct labor b. product...
1.Manufacturing costs are typically classified as Select one: a.
direct materials or direct labor b. product costs or period costs
c. direct materials, direct labor, or manufacturing overhead d.
direct materials, direct labor, or selling and administrative
2. Raw materials inventory, January 1 $ 12,000 Raw materials
inventory, December 31 16,000 Work in process, January 1 5,000 Work
in process, December 31 8,000 Finished goods, January 1 17,000
Finished goods, December 31 12,000 Raw materials purchases 118,000
Direct labor 165,000...
Marcelino Co.'s March 31 inventory of raw materials is $84,000.
Raw materials purchases in April are...
Marcelino Co.'s March 31 inventory of raw materials is $84,000.
Raw materials purchases in April are $520,000, and factory payroll
cost in April is $367,000. Overhead costs incurred in April are:
indirect materials, $58,000; indirect labor, $30,000; factory rent,
$37,000; factory utilities, $23,000; and factory equipment
depreciation, $55,000. The predetermined overhead rate is 50% of
direct labor cost. Job 306 is sold for $660,000 cash in April.
Costs of the three jobs worked on in April follow.
Job 306
Job...
Marcelino Co.'s March 31 inventory of raw materials is $84,000.
Raw materials purchases in April are...
Marcelino Co.'s March 31 inventory of raw materials is $84,000.
Raw materials purchases in April are $570,000, and factory payroll
cost in April is $384,000. Overhead costs incurred in April are:
indirect materials, $58,000; indirect labor, $29,000; factory rent,
$40,000; factory utilities, $21,000; and factory equipment
depreciation, $60,000. The predetermined overhead rate is 50% of
direct labor cost. Job 306 is sold for $695,000 cash in April.
Costs of the three jobs worked on in April follow.
Job 306
Job...
Marcelino Co.'s March 31 inventory of raw materials is $85,000.
Raw materials purchases in April are...
Marcelino Co.'s March 31 inventory of raw materials is $85,000.
Raw materials purchases in April are $510,000, and factory payroll
cost in April is $382,000. Overhead costs incurred in April are:
indirect materials, $55,000; indirect labor, $25,000; factory rent,
$32,000; factory utilities, $20,000; and factory equipment
depreciation, $55,000. The predetermined overhead rate is 50% of
direct labor cost. Job 306 is sold for $685,000 cash in April.
Costs of the three jobs worked on in April follow.
Job 306
Job...
Allen Company used $71,000 of direct materials and incurred
$37,000 of direct labor costs during the...
Allen Company used $71,000 of direct materials and incurred
$37,000 of direct labor costs during the current Indirect labor
amounted to $2,700 while indirect materials used totaled $1,600.
Other operating costs pertaining to the factory included utilities
of $3,100, maintenance of $4,500, supplies of $1,800, depreciation
of $7,900, and property taxes of $2,600. There was no beginning or
ending finished goods inventory, but work in process inventory
began the year with a $5,500 balance and ended the year with a...