The following cost and inventory data were taken from the records of the Beca Company for the
Fantastic news! We've Found the answer you've been seeking!
Question:
The following cost and inventory data were taken from the records of the Beca Company for the year 2022: | ||||
Costs incurred: | ||||
Depreciation, factory equipment | 24,000 | |||
Depreciation, office equipment | 7,500 | |||
Indirect materials | 12,100 | |||
Maintenance, factory equipment | 18,900 | |||
Utilities, factory | 8,400 | |||
Sales commissions | 29,000 | |||
Factory supervision | 54,500 | |||
Rent, factory building | 62,000 | |||
Purchases of direct materials (net) | 124,000 | |||
Direct labor cost | 91,000 | |||
Advertising expense | 47,000 | |||
Sales | 615,000 | |||
Inventories: | ||||
January 1, 2022 | December 31,2022 | |||
Direct Materials | 10,200 | 11,700 | ||
Work in Process | 16,900 | 21,000 | ||
Finished goods | 46,000 | 24,000 | ||
Required: | ||||
(a) Computation of direct materials used in production for 2022 | ||||
(b) the schedule and compute the cost of goods manufactured for 2022. | ||||
(c) A cost of goods sold statement/schedule for 2022. | ||||
(d) An income statement for 2022 |
Related Book For
Managerial Accounting Tools for Business Decision Making
ISBN: 978-1118856994
4th Canadian edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
Posted Date: