tra lech, a phone accessories manufacturer, has presented you with the following financial information for the y ending March 31, 2023: Office salaries Provision for unrealised profits Debtors Purchases of other finished goods 54,300 107,150 82,450 8,100
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- Bubba Manufacturing Company provided the following information for the fiscal year toJune 30, 2020:Inventories 01/07/2019 30/06/2020Direct MaterialsWork-in-ProcessFinished Goods$72,000107,000149,500$65,000128,000141,700Other information:Office cleaner’s wages 4,500Sales Revenue 1,031,000Raw materials purchased 235,000Factory wages 239,700Indirect materials 23,500Delivery truck driver’s wages 15,400Indirect labor 9,500Depreciation on factory plant & equipment 32,000Insurance 1 60,000Depreciation on delivery truck 7,250Utilities 2 118,750Administrative salaries 41,250Special Design Costs 5,000Selling expenses 9,000Sales Commission 2% of gross profit1 Of the total insurance, 66⅔% relates to the factory facilities & 33⅓% relates to general& administrative costs.2 Of the total utilities, 80% relates to the manufacturing facilities & 20% relates to theoffice area.Requirements:a) What was the amount of direct materials used in production?b) What was the amount of manufacturing…Practice: The following data are taken from the accounting records of Gregory Mfg. Co.: 2019 2018 Ending inventories: Materials $ 100,000 $80,000 Work in Process $64,000 $56,000 Finished Goods $140,000 $170,000 Manufacturing goods: Direct materials used $657,000 Direct labor costs charged to production $270,000 Manufacturing Overhead $378,000 Show All Calculations: Outline a schedule of cost of goods manufactured for 2019 in good form The company generally prices products adding 20% to the cost of goods sold. Determine the total revenue the company would have generated in 2019.2. The following information taken from Jejai Limited: Particulars Debit Credit RM RM Purchase of raw materials Fuel and light Administration salaries Factory wages Carriage outwards Rent and business rates Sales Return inward General office expenses Repairs to plant and machinery Inventory at 1 January 2020: Raw materials Work in process Finished goods Sundry accounts payable Capital Freehold premises Plant and machinery Accounts receivable Accumulated provision for depreciation on plant and machinery Cost in hand 258,000 21,000 17,000 59,000 4,000 21,000 482,000 7,000 9.000 9,000 21,000 14,000 23,000 37,000 457,000 410,000 80,000 20,000 8,000 11,000 984,000 TOTAL 984,000 Propared by: Puan Sini Nor Junita Mohd Radzi Additional information: i. Inventory in hand at 31 December 2020: a. Raw materials b. Work in process c. Finished goods ii. Depreciation of 10% on plant and machinery using the straight-line method ii. 80% of fuel and light and 75% of rent and rates to be charged to…
- Marin Express reports the following costs and expenses in June 2022 for its delivery service. Indirect materials used Depreciation on delivery equipment Dispatcher's salary Property taxes on office building CEO's salary Gas and oil for delivery trucks Delivery service (product) costs Period costs eTextbook and Media $5,380 $ 9,400 4,200 740 10,080 1,840 Drivers' salaries Determine the total amount of (a) delivery service (product) costs and (b) period costs. Advertising Delivery equipment repairs Office supplies Office utilities Repairs on office equipment $13,440 3,880 252 546 840 1583. Prepare a Statement of Cost of Goods Manufactured and Sold for the given problem. The following data are provided by the controller of Liwasan Corporation for the year 2020: Cash, P480,000 Accounts Receivable, 696,000 Finished Goods Inventory, beg., 108,400 Finished Goods Inventory, end., 132,000 Work in Process Inventory, beg., 59,600 Work in Process Inventory, end., 77,600 Raw Materials Inventory, beg., 176,000 Raw Materials Inventory, end., 128,000 Raw Material Purchases, 732,000 Sales Discounts, 16,000 Factory Overhead (excluding depreciation), 936,000 Marketing and Administrative Expenses (excluding depreciation), 688,400 Depreciation (90% manufacturing, 10% marketing and administrative expenses), 232,000 Sales, 3,688,000 Direct Labor, 1,047,200 Freight on raw materials purchased, 13, 200 Rental Income, 128,000 Interest on Notes Payable, 32,00012. QRS Manufacturing Company has the following data for 2025 (amounts in millions): View the information. Prepare the schedule of cost of goods manufactured and the cost of goods sold section of the income statement for the year ended December 31, 2025. Begin by preparing the schedule of cost of goods manufactured. Direct Materials Used: Direct Materials Used QRS Manufacturing Company Schedule of Cost of Goods Manufactured Year Ended December 31, 2025 (in millions) Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For Cost of Goods Manufactured CITE Information Direct Materials, January 1 Direct Materials, December 31 Work-in-Process Inventory, January 1 Work-in-Process Inventory, December 31 Finished Goods Inventory, January 1 Finished Goods Inventory, December 31 Direct Materials Purchased, including Freight In Direct Labor Manufacturing Overhead Print Done $ 8 9 15 14 7 10 35 41 25 X
- Sandhill Delivery Service reports the following costs and expenses in June 2022. Indirect materials Depreciation on delivery equipment Dispatcher's salary Property taxes on office building CEO's salary Gas and oil for delivery trucks Driver's salaries Advertising Delivery equipment repairs Office supplies Office utilities Repairs on office equipment (a) $ Product costs $ 8,320 11,160 5,000 900 12,000 3,160 17,000 5,080 280 720 2,390 180 Determine the total amount of delivery service (product) costs.Based on the below information, compute the cost of goods manufactured for ABC Company: Beginning of 2020 End of ABC company Direct manufacturing labor Work-in-process inventory Repairs and maintenance on plant Purchases of direct materials Finished-goods inventory Indirect manufacturing labor Marketing, distribution, and customer-service costs 2020 20,000 22,000 21,000 3,000 70,000 18.000 23,000 16,000 108.000 Depreciation on plant, building, and equipment Direct materials inventory General and administrative costs Plant insurance 10,000 29.000 27.000 34,000 7,000 A) S124.000 B) S146.000 C) $125 000 D) $159.000SHOW YOUR SOLUTIONS and FORMULA, please do not use excel The Maylad Corporation has requested you to analyze its financial statements for 2019 and has provided you with the following information. Account Titles 2019 2018 Sales 600,000 400,000 Direct Materials Inventory, January 1 16,000 26,080 Direct Materials Purchases 108,000 95,120 Direct Materials, Inventory Dec. 31 24,000 16,000 Direct Labor 81,000 64,000 Factory overhead (including depreciation of P10,000 for 2019 and P6,000 for 2018) 60,000 48,000 Operating Expenses (including depreciation of P12,000) 250,000 120,000 Interest Expenses 6,000 5,000 Provision for Income Tax 32,000 23,000 Work in Process, Jan. 1 27,000 13,800 Work in Process, Dec. 31 32,000 27,000 Finished goods, Jan. 1 52,000 45,000 Finished goods, Dec. 31 48,000 52,000 Cash 30,000 24,400 Marketable Securities 10,000 32,000 Accounts…
- SHOW YOUR SOLUTIONS and FORMULA, please do not use excel The Maylad Corporation has requested you to analyze its financial statements for 2019 and has provided you with the following information. Account Titles 2019 2018 Sales 600,000 400,000 Direct Materials Inventory, January 1 16,000 26,080 Direct Materials Purchases 108,000 95,120 Direct Materials, Inventory Dec. 31 24,000 16,000 Direct Labor 81,000 64,000 Factory overhead (including depreciation of P10,000 for 2019 and P6,000 for 2018) 60,000 48,000 Operating Expenses (including depreciation of P12,000) 250,000 120,000 Interest Expenses 6,000 5,000 Provision for Income Tax 32,000 23,000 Work in Process, Jan. 1 27,000 13,800 Work in Process, Dec. 31 32,000 27,000 Finished goods, Jan. 1 52,000 45,000 Finished goods, Dec. 31 48,000 52,000 Cash 30,000 24,400 Marketable Securities 10,000 32,000 Accounts…provide the following: work in process in Jan 1, 2022, finished goods in dec 31, 2022 and amount of purchased materials in 20222. The following information taken from Jejai Limited: Particulars Debit RM Credit RM Purchase of raw materials Fuel and light Administration salaries Factory wages Carriage outwards Rent and business rates Sales Return inward General office expenses Repairs to plant and machinery Inventory at 1 January 2020: Raw materials Work in process Finíshed goods Sundry accounts payable Capital Freehold premises Plant and machinery Accounts receivable 258,000 21,000 17,000 59,000 4,000 21,000 482,000 7,000 9,000 9,000 21,000 14,000 23,000 37,000 457,000 410,000 80,000 20,000 8,000 Accumulated provision for depreciation on plant and machinery Cost in hand 11,000 984,000 984,000 ТОTAL