Question 1 (25 marks) Leather Authentic Company is a manufacturer of leather cases for tablets. The following information pertains to operations during the 2023 calendar year. Sales Revenue $14,275,000 Direct Factory Labor 3,877,400 Indirect Factory Labor 1,232,250 Total Depreciation 400,000 Total Utilities 2 525,000 Distribution & Customer Service Costs 76,800 Hireage of Special Labeling Equipment 75,200 Insurance on Plant & Equipment 585,000 Property Taxes 3 Administrative Wages & Salaries 90,000 1,076,000 57,700 Advertising Expenses Sales 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. 3 The property taxes should be shared: 85% production & 15% general & administrative costs The following additional information is also available: Inventory Data: 1/1/2023 Purchases 31/12/2023 Raw Materials $750,000 $4,330,000 $807,000 Indirect Materials 55,000 320,000 Work in Progress 1,115,400 n/a 71,500 924,000 Finished Goods 1,142,600 n/a 1,720,200 Required: a) Calculate the raw material used by Leather Authentic Company. b) Calculate the indirect materials used by Leather Authentic Company (2 marks) (2 marks) c) What is the total manufacturing overhead cost incurred by Leather Authentic Company during the period? d) Determine the prime cost & conversion cost of the cases manufactured. e) Prepare a schedule of cost of goods manufactured for the year ended December total manufacturing cost & total manufacturing costs to account for. (3 marks) (3 marks) 31, 2023, clearly showing (5 marks) December 31, 2023. List (6% marks) f) Prepare an income statement for Leather Authentic Company for the year ended the non-manufacturing overheads in order of size starting with the largest. g) What is the selling price per case if Leather Authentic manufactured 9,600 cases for tablets for the year and uses a mark-up of 50% on cost? (2 marks) h) How does the format of the income statement for a manufacturing concern differ from the income statement of a merchandising entity? (1½ marks)

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! Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.] CCk my work Shadee Corporation expects to sell 590 sun shades in May and 360 in June. Each shade sells for $146. Shadee's beginning and ending finished goods inventories for May are 80 and 45 shades, respectively. Ending finished goods inventory for June will be 65 shades. E8-7 (Algo) Preparing Direct Labor and Manufacturing Overhead Budgets [LO 8-3d] Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $13 per hour. Additionally, Shadee's fixed manufacturing overhead is $8,000 per month, and variable manufacturing overhead is $10 per unit produced. Required: 1. Prepare Shadee's direct labor budget for May and June. 2. Prepare Shadee's manufacturing overhead budget for May and June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare Shadee's direct labor budget for May and June. Note:…

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Classify costs Seymour Clothing Co. manufactures a variety of clothing types for distribution to several major retail chains. The following costs are incurred in the production and sale of blue jeans: Shipping boxes used to ship orders Consulting fee of 200,000 paid to industry specialist for marketing advice Straight-line depreciation on sewing machines Salesperson's salary, 10,000 plus 2% of the total sales Fabric Dye Thread Salary of designers Brass buttons Legal fees paid to attorneys in defense of the company in a patent infringement suit, 50,000 plus 87 per hour Insurance premiums on property, plant, and equipment, 70,000 per year plus 5 per 30,000 of insured value over 8,000,000 Rental costs of warehouse, 5,000 per month plus 4 per square foot of storage used Supplies Leather for patches identifying the brand on individual pieces of apparel Rent on plant equipment, 50,000 per year Salary of production vice president Janitorial services, 2,200 per month Wages of machine operators Electricity costs of 0.10 per kilowatt-hour Property taxes on property, plant, and equipment Instructions Classify the preceding costs as either fixed, variable, or mixed. Use the following tabular headings and place an X in the appropriate column. Identify each cost by letter in the cost column.

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Preparing a schedule of cost of goods manufactured and an income statement for a manufacturing company Certain item descriptions and amounts are missing from the monthly schedule of cost of goods manufactured and income statement of Charlie Manufacturing Company. Fill in the blanks with the missing words, and replace the Xs with the correct amounts.

Bag Teeth manufactures dental supplies & equipment. Bag Teeth Acts Total sales for year 2022 is $1,587,560 cost of goods sold & gross margin Calculate Inventory: Finished Goods, Jan. 01 Work in process, Jan.ol Raw Materials, Jan. 01 31 Raw materials purchased Raw Materials, Dec Workin Process, Dec. 31 Finished Goods, Dec. 31 other Factory Expenses: Factory Supervisor salary Equipment repairs Plant utilities plant property tax Assembly employees info: # of employees. Wages per Daily hours hour Annual total days work per employee 552,000.00 165,000.00 Calculate 16,500.00 28,000.00 15,000.00 21,000.00 465,000.00 the total overhead cost? 45,000.00 15,500.00 13,500.00 11,500.00 18. 18.50 8 260 mufacturing manu