Assume R100 000 direct material was issued to the company. Direct labour paid amounted to R30 000. Factory supervisor salary R4 000.Electricity for the factory R3 000 and rent for the factory building was R20 000. Suppose the Work-in-progress in the beginning of the year was R9000 and at the end of the year was R6 000. What is the value of the Finished goods that is transferred to the Sales department?OA. R154 000B. R160 000OC. R103 000OD. R157 000Reset Selection

The total manufacturing costs is the sum of the direct materials, direct labour, and manufacturing…

Answered: Assume R100 000 direct material was…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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QUESTION 1 Identify each of the costs listed below. The plant manager's salary is $80,000. A salesperson earns a commission of 10% of revenue. Paid $20,000 to advertise a new product. A. Variable Cost B. Fixed Cost
Brian Pogi Co. manufactured the following units: Saleable 10,000 units Unsaleable Normal Loss 400 units Abnormal Loss 600 units Manufacturing costs totaled P198,000. a. How much is the period cost? b. What amount should the entity debit to finished goods?
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Hw.52. The manufacturing concern has the following data available for the month of March 2020:Total manufacturing cost Rs. 10,000Total cost of goods manufactured Rs.15,500Cost of material purchased Rs.3,500Direct Labour Rs.2,100Direct material_ Begining Rs.3,100Direct material Ending Rs.600The amount of FOH must be RS. O a. 1,900 O b. 2,000 O C. 2,900 • d. 2,100
A company’s standard product cost is $9 per unit. Actual production costs were $11 per unit. The firm made 20 units and sold 17 units. The firm’s cost of goods sold was Select one: a. $220. b. $187 c. $153 d. $180
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The prime cost for company XYZ was $20,000, while the conversion cost was $25,000. Assume that direct labor cost is three times the direct materials cost and that the manufacturing overhead cost was two times the direct materials cost. Calculate the direct materials cost ($). O a. 45,000 O b. 15,000 Oc. 5,000 O d. 10,000 O e. 30,000 Al-Nahdha company is preparing its cash budget for the first half of the year 2022. The company records shows that it has $20,000 in the cash at the start of the period. Cash collections from customers for the period are budgeted at $56,000. Purchases of inventory as budgeted will cost cash payment during the period of $50,000. The Company intends to keep its cash balance at the end of the period at $10,000. Other operating expenses for this period are budgeted at $30,000, which includes $4,000 depreciation and any cash expenses are paid in the month incurred. How much borrowing will the company need in the Finis
Company XYZ produced 1,000 units of product A. The total manufacturing costs were $30,000. The Manufacturing overhead cost was twice the direct labor cost while the direct materials cost was three times the direct labor cost. What was the manufacturing overhead cost per unit? a. None of the given answers b. 5 С. 15 d. 6 e. 10
Edmiston Company reported the following vear-end information: beginning work in process inventory, s80,000; cast of goods manufactured, $750,000; beginning finished goods inventory, $50,000, endng work in process inventory, $70,000; and ending finished goods inventory, 40,000. How much is Edmiston's cost of goods sold for the year? O 3740,000 O S770,000 • s760,000 O 750,000

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