Big bang limited has information on their cost and expenses the year ending December 31, 2005

Raw materials, 1/1/20 $ 60,000 Indirect labor $180,000
Raw materials purchases $410,000 Factory machinery rent $80,000 Property taxes, factory building $12,000
Factory utilities $130,000
Factory insurance $ 56,000 Factory utilities $130,000
Sales (net) $3,000,000 Factory utilities $130,000
Indirect materials $30,000 Factory utilities $130,000
Work in process, 12/31/19 $100,000 Depreciation, factory building $48,000
Finished goods, 1/1/20 $220,000 Finished goods, 12/31/20 $240,000 Direct labor $700,000
REQUIRED:
Prepare a cost of goods manufactured schedule for Simple plus Manufacturing Company for 2019.
a. prime cost
b. factory overhead

Answer rating: 100% (QA)

a Prime Cost Raw Materials 1120 60000 Raw Materials Purchases 410000 Dir... View the full answer