nventory 1/10/2021 31/12/2021 Raw Materials $72,000 $65,000 Work in Progress $138,875 $129,125 Finished Goods $149,500 $141,700 Other information: Sales Revenue
nventory 1/10/2021 31/12/2021
Raw Materials $72,000 $65,000
Work in Progress $138,875 $129,125
Finished Goods $149,500 $141,700
Other information:
Sales Revenue $1,694,950
Factory Labour 239,700
Raw Materials Purchased 235,000
Office Cleaner’s Wages 4,500
Factory Supplies Used 23,500
Depreciation: Factory Plant & Equipment 32,000
Total Utilities 118,750
Plant Supervisor’s Salary 180,000
Design Costs ( Logo) 4,300
Packaging Material Cost 35,000
Total Insurance 60,000
Delivery Vehicle Drivers’ Wages 41,250
Depreciation: Delivery Vehicle 7,250
Property Taxes 105,000
Administrative Wages & Salaries 123,750
Sales Commission 2% of Net Profit before Commission
Of the total utilities, 80% relates to manufacturing and 20% relates to general and administrative costs.
Of the total insurance, 66⅔% relates to the manufacturing facilities & 33⅓% relates to the office area
The property taxes should be shared: 75% factory facilities & 25% general & administrative cost.
Determine the prime cost & conversion cost of the crests produced.
Step by step
Solved in 3 steps with 2 images
