1. Prepare a performance report showing both month and year-to-date data for Post Manufacturing’s Machining Department for February, 2011 using the following data:
January February
Budgeted Data:
Machinists’ wages $6,200 $5,600
Supplies 3,200 3,000
Depreciation 2,000 2,000
Utilities 1,500 1,400

Actual Data:
Machinists’ wages $6,120 $5,650
Supplies 3,300 3,180
Depreciation 2,000 2,000
Utilities 1,580 1,390




2. The following data was taken from the general ledger and other records of Marwick Manufacturing Co. at January31, the end of the first month of operations in the current fiscal year:

Sales $650,000
Inventories at January 31:
Materials inventory 20,000
Work in process inventory 32,000
Finished goods inventory 54,000
Inventories at January 1:
Materials 25,000
Work in process 29,000
Finished goods 48,000
Materials purchased 154,000
Labor Costs:
Assembly workers’ wages 185,000
Supervisors’ salaries 30,000
Sales personnel salaries 52,000
Depreciation:
Factory building 73,000
Sales office 28,000
Indirect materials used 3,000
Factory utilities 67,000


a. Prepare a statement of cost of goods manufactured.
b. Determine the cost of goods sold for the month.

Answer rating: 100% (QA)

Ans 1 Budget Actual Variance Expenses February Total February Total February total Machinistss Wages ... View the full answer