Grand Falls Balls Company makes those squishy stress-relieving balls. They recorded the following data for the...
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Grand Falls Balls Company makes those squishy stress-relieving balls. They recorded the following data for the month of January 2021: Inventories Direct Material Work in Process Finished Goods Additional Data: Net Sales Revenue Direct Labour Costs Indirect Labour Costs Sales Commissions Administrative Expenses Direct Materials Purchased during January Depreciation, factory Factory Maintenance and Supplies Utilities, (80% factory, 20% office) General Office Salaries January 1, 2021 $24,000 18,000 22,000 January 31, 2021 $23,000 15,000 27,000 $325,000 40,000 45,000 15,000 18,000 30,000 10,000 8,000 25,000 12,000 Required: a) Compute the amount of direct materials used in January. b) List and total the Manufacturing Overhead costs for the month of January. c) Compute the Cost of Goods Manufactured. Grand Falls Balls Company makes those squishy stress-relieving balls. They recorded the following data for the month of January 2021: Inventories Direct Material Work in Process Finished Goods Additional Data: Net Sales Revenue Direct Labour Costs Indirect Labour Costs Sales Commissions Administrative Expenses Direct Materials Purchased during January Depreciation, factory Factory Maintenance and Supplies Utilities, (80% factory, 20% office) General Office Salaries January 1, 2021 $24,000 18,000 22,000 January 31, 2021 $23,000 15,000 27,000 $325,000 40,000 45,000 15,000 18,000 30,000 10,000 8,000 25,000 12,000 Required: a) Compute the amount of direct materials used in January. b) List and total the Manufacturing Overhead costs for the month of January. c) Compute the Cost of Goods Manufactured.
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Related Book For
Cost Accounting Foundations and Evolutions
ISBN: 978-1111626822
8th Edition
Authors: Michael R. Kinney, Cecily A. Raiborn
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