Calculate the raw material used by Pro-Leather Company.Calculate the indirect materials used by Pro-Leather Company. Pro-Leather Company is a manufacturer of leather cases for tablets. The following information pertainsto operations during the 2020 calendar year.Sales RevenueDirect Factory Labor$14,275.0003.952,600Indirect Factory LaborTotal Depreciation'Total Utilities 2Distribution & Customer Service Costs1,232,250400,000525,00076,800Insurance on Plant & EquipmentProperty Taxes 3Administrative Wages & SalariesAdvertising ExpensesSales Commission585,00090,0001,076,00057.7006% of Sales Revenue*Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general andadministrative costs.* Of the total utilities, 75% relates to production and 25% relates to general and administrativecosts.3 The property taxes should be shared: 85% production & 15% general & administrative costsThe following additional information is also available:Inventory Data: 1/1/2020 Purchases 31/12/2020$750,000 $4.330,000320,000n/an/aRaw Materials$807,000Indirect Materials55,000Work in ProgressFinished Goods1,115.4001,142,60071,500924.0001,720,200

As per inventory equation, Opening inventory + purchases= Inventory consumed + closing stock.

Pro-Leather Company is a manufacturer of leather cases for tablets. The following information pertains to operations during the 2020 calendar year. $14,275,000 3.952,600 1,232,250 400,000 525.000 Sales Revenue Direct Factory Labor Indirect Factory Labor Total Depreciation · Total Utilities = Distribution & Customer Service Costs Insurance on Plant & Equipment Property Taxes 3 Administrative Wages & Salaries Advertising Expenses Sales Commission 76,800 585.000 90,000 1,076,000 57.700 6% of Sales Revenue "Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general an administrative costs. - Of the total utilities, 75% relates to production and 25% relates to general and administrativ costs. 3 The property taxes should be shared: 85% production & 15% general & administrative costs The following additional information is also available: Inventory Data: 1/1/2020 Purchases 31/12/2020 $807,000 71.500 924.000 1,720,200 Raw Materials $750,000 $4.330,000 55,000 1,115-400 1,142,600 Indirect Materials 320,000 Work in Progress Finished Goods n/a n/a

Pro-Leather Company is a manufacturer of leather cases for tablets. The following information pertains to operations during the 2020 calendar year. $14,275,000 3.952,600 1,232,250 400,000 525.000 Sales Revenue Direct Factory Labor Indirect Factory Labor Total Depreciation · Total Utilities = Distribution & Customer Service Costs Insurance on Plant & Equipment Property Taxes 3 Administrative Wages & Salaries Advertising Expenses Sales Commission 76,800 585.000 90,000 1,076,000 57.700 6% of Sales Revenue "Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general an administrative costs. - Of the total utilities, 75% relates to production and 25% relates to general and administrativ costs. 3 The property taxes should be shared: 85% production & 15% general & administrative costs The following additional information is also available: Inventory Data: 1/1/2020 Purchases 31/12/2020 $807,000 71.500 924.000 1,720,200 Raw Materials $750,000 $4.330,000 55,000 1,115-400 1,142,600 Indirect Materials 320,000 Work in Progress Finished Goods n/a n/a

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter10: Accounting Systems For Manufacturing Operations

Section: Chapter Questions

Problem 10.3E: Classifying costs as factory overhead Which of the following items are properly classified as part...

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Pro-Leather Company is a manufacturer of leather cases for tablets. The following information pertains to operations during the 2020 calendar year.Sales Revenue $14,275,000Direct Factory Labor 3,952,600Indirect Factory Labor 1,232,250Total Depreciation 1 400,000Total Utilities 2 525,000Distribution & Customer Service Costs 76,800Insurance on Plant & Equipment 585,000Property Taxes 3 90,000Administrative Wages & Salaries 1,076,000Advertising Expenses 57,700Sales Commission 6% of Sales Revenue Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general and administrative costs.Of the total utilities, 75% relates to production and 25% relates to general and administrative costs.The property taxes should be shared: 85% production & 15% general & administrative costs. The following additional information is also available:Inventory Data: 1/1/2020 Purchases 31/12/2020Raw Materials…
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Pro-Leather Company is a manufacturer of leather cases for tablets. The following information pertains to operations during the 2020 calendar year. Sales Revenue Direct Factory Labor Indirect Factory Labor Total Depreciation $14,275,000 3,952,600 1,232,250 400,000 Total Utilities 2 525,000 Distribution & Customer Service Costs 76,800 585,000 90,000 Insurance on Plant & Equipment Property Taxes 3 Administrative Wages & Salaries 1,076,000 57,700 6% of Sales Revenue Advertising Expenses Sales Commission I Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general and administrative costs. 2 Of the total utilities, 75% relates to production and 25% relates to general and administrative costs. 3 The property taxes should be shared: 85% production & 15% general & administrative costs The following additional information is also available: Inventory Data: 1/1/2020 Purchases 31/12/2020 $4,330,000 320,000 n/a Raw Materials $750,000 $807,000 Indirect Materials…
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Pro-Leather Company is a manufacturer of leather cases for tablets. The following information pertains to operations during the 2020 calendar year. Sales Revenue $14,275,000 Direct Factory Labor Indirect Factory Labor Total Depreciation 1 3,952,600 1,232,250 400,000 Total Utilities 2 525,000 Distribution & Customer Service Costs 76,800 Insurance on Plant & Equipment 585,000 Property Taxes 3 Administrative Wages & Salaries Advertising Expenses 90,000 1,076,000 57,700 Sales Commission 6% of Sales Revenue 1Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general and administrative costs. 2 Of the total utilities, 75% relates to production and 25% relates to general and administrative costs. 3 The property taxes should be shared: 85% production & 15% general & administrative costs The following additional information is also available: Inventory Data: 1/1/2020 Purchases 31/12/2020 $750,000 $4,330,000 Raw Materials $807,000 Indirect Materials 55,000…
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