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 $14,275,000 3.952,600 Indirect Factory Labor Total Depreciation: Total Utilities 2 Distribution & Customer Service Costs Insurance on Plant & Equipment Property Taxes 3 Administrative Wages & Salaries | Advertising Expenses Sales Commission 1,232,250 400,000 525.000 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 and administrative costs. * 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 Raw Materials $750,000 $4.330,000 320,000 n/a n/a $807,000 Indirect Materials 55,000 1,115,400 1,142,600 71,500 924,000 Work in Progress Finished Goods 1,720,200
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 $14,275,000 3.952,600 Indirect Factory Labor Total Depreciation: Total Utilities 2 Distribution & Customer Service Costs Insurance on Plant & Equipment Property Taxes 3 Administrative Wages & Salaries | Advertising Expenses Sales Commission 1,232,250 400,000 525.000 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 and administrative costs. * 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 Raw Materials $750,000 $4.330,000 320,000 n/a n/a $807,000 Indirect Materials 55,000 1,115,400 1,142,600 71,500 924,000 Work in Progress Finished Goods 1,720,200
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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How does the format of the income statement for a manufacturing concern differ from the income statement of a merchandising entity?
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