Tokyo Manji Gang (TMG) Berhad manufactures biker jackets. An analysis of the accounts reveals the following...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Tokyo Manji Gang (TMG) Berhad manufactures biker jackets. An analysis of the accounts reveals the following costs and expenses data for April 2023: a) Depreciation on industrial sewing machines Depreciation on delivery bike b) Rent Utilities Salaries for production line workers Director's salary Factory manager's salary Raw material purchases Additional information: 1. Finished goods inventory was RM7,140 on 1 April and RM1,700 on 30 April. 2. Work-in-process inventory was RM5,000 at the end of April. 3. Raw materials inventory was stocked at RM2,500 on 30 April. 4. Only 60% of the rent expense and utilities expense apply to manufacturing operations. The remaining amounts are charged for selling and administrative activities. 5. Sales for April 2023 totalled RM78,800. Required: Determine the: RM 6,000 4,000 14,000 6,000 10.500 Prepare a Cost of Goods Manufacture Schedule for April 2023. (i) (ii) (iii) gross profit for April 2023. cost of goods available for sale, cost of goods sold, and 12,000 8,000 5,000 (14 marks) Tokyo Manji Gang (TMG) Berhad manufactures biker jackets. An analysis of the accounts reveals the following costs and expenses data for April 2023: a) Depreciation on industrial sewing machines Depreciation on delivery bike b) Rent Utilities Salaries for production line workers Director's salary Factory manager's salary Raw material purchases Additional information: 1. Finished goods inventory was RM7,140 on 1 April and RM1,700 on 30 April. 2. Work-in-process inventory was RM5,000 at the end of April. 3. Raw materials inventory was stocked at RM2,500 on 30 April. 4. Only 60% of the rent expense and utilities expense apply to manufacturing operations. The remaining amounts are charged for selling and administrative activities. 5. Sales for April 2023 totalled RM78,800. Required: Determine the: RM 6,000 4,000 14,000 6,000 10.500 Prepare a Cost of Goods Manufacture Schedule for April 2023. (i) (ii) (iii) gross profit for April 2023. cost of goods available for sale, cost of goods sold, and 12,000 8,000 5,000 (14 marks)
Expert Answer:
Answer rating: 100% (QA)
a Cost of Goods Manufactured Schedule for April 2023 Account RM Direct Materials 5000 D... View the full answer
Related Book For
Accounting Tools for business decision making
ISBN: 978-0470095461
4th Edition
Authors: kimmel, weygandt, kieso
Posted Date:
Students also viewed these accounting questions
-
1. How strong are the competitive forces confronting J. Crew in the market for specialty retail? Do a [Michael Porter] five-forces analysis to support your answer. (see chapter 3 in the textfor...
-
What are different approaches for reclamation in deep water region and shallow water region?
-
The Regina Company, Inc. BALANCE SHEET (In Thousands) ASSETS Cash Accounts Receivable Inventories Other Current Assets Total Current Assets Fixed Assets Accum Depreciation Other Assets TOTAL ASSETS...
-
Go to the St. Louis Federal Reserve FRED database, and find data on the exchange rate of U.S. dollars per British pound (DEXUSUK). A Mini Cooper can be purchased in London, England, for 17,865 or in...
-
A company has two divisions. The Bottle Division produces products that have variable costs of $3 per unit. Its 2012 sales were 150,000 to outsiders at $5 per unit and 40,000 units to the Mixing...
-
Think of a time you were talking with someone and felt yourself getting angry. How did you handle it? What steps would you take to keep from getting angry with a customer who was being unreasonable?
-
GTT Company had the following transactions in 20X4: a. On 1 January 20X4, a new machine was purchased at a list price of $22,500. The company did not take advantage of a 2% cash discount available...
-
- The market value of the assets in the plan as of January 1 , 2 0 2 3 was $ 1 , 9 8 2 , 6 0 0 ; - The Company ABC contributes the normal cost for 2 0 2 3 on June 3 0 , 2 0 2 3 ; and - The pension...
-
Lessee Ltd (1.e., the lessee) signed a contract with Lessor Ltd (1.e., the lessor) to lease items of office equipment. You are provided with the following lease details: Commencement date Lease term...
-
3) Write a shell script myFile which will output the total number of lines in the file whose name will be given by the user. Also, it will read certain lines from the file and put them in a new file...
-
Do any of the reports you receive in the course of your work use common sizing? Why do you think so?
-
Cost varies as volume changes because of what type of cost?
-
In what ways can conflict be beneficial to a society? Can conflict actually support consensus?
-
If so, did you receive the information in a formal seminar or in an informal manner, oneon-one with another individual? Do you think this was the best way? Why?
-
Give one or two examples of how changing values and/or technology have led to changes in the law.
-
Cullumber Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting business away from...
-
Frontland Advertising creates, plans, and handles advertising campaigns in a three-state area. Recently, Frontland had to replace an inexperienced office worker in charge of bookkeeping because of...
-
Refer back to E23-11 to address the following. Instructions Prepare a memo to Megan Comer, your supervisor. Show your calculations from E23-11, parts (a) and (b). In one or two paragraphs, discuss...
-
What are the primary uses of the employee earnings record?
-
Due to rapid employee turnover in the accounting department, the following transactions involving intangible assets were improperly recorded by Neitzke Corporation in 2012. 1. Neitzke developed a new...
-
Consider a stochastic process such that the underlying security \(S\) follows the model: \[d S_{t}=\mu S_{t} d t+\sigma_{t} S_{t} d Z_{t}\] where \(Z\) is a standard Brownian motion. Suppose the...
-
Calculate the solution to the following SDE: \[d X_{t}=\alpha\left(m-X_{t} ight) d t+\sigma d B_{t}\] with \(X_{0}=x\). The process satisfying this equation is called the meanreverting...
-
If \(X_{t} \sim N(0, t)\), calculate the distribution of \(\left|X_{t} ight|\). Calculate \(\mathbf{E}\left|X_{t} ight|\) and \(V\left(\left|X_{t} ight| ight)\).
Study smarter with the SolutionInn App