Direct labor cost $10,500 Purchases of raw materials 16,500 Factory supervisor salary 2,250 Office Supplies used 675
Question:
Direct labor cost | $10,500 |
Purchases of raw materials | 16,500 |
Factory supervisor salary | 2,250 |
Office Supplies used | 675 |
Factory Insurance | 1,350 |
Commissions paid Commissions paid | 2,500 |
Advertising | 1,800 |
Freight on of raw Material | 3,750 |
Raw Materials inventory, May 1 | 3,475 |
Work-in-process inventory, May 1 | 6,685 |
Raw Materials inventory, May 31 | 9,500 |
Work-in-process inventory, May 31 | 2,200 |
Delivery expenses | 1,000 |
Finished inventory May 1 | 8,000 |
Factory taxed | 3,000 |
Selling and admin expenses | 1,500 |
Factory utilities | 800 |
Depreciation factory equipment | 1,500 |
Office salary expenses | 1,800 |
Required:
Marks will not be given if calculations are not shown
Calculate the following, show all working, and list the figures -
- Conversion cost
- Prime cost
- Manufacturing overhead cost
- Cost of goods manufactured.
- Period cost
- Cost of goods sold
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen