Question

Lucy Corporation had the following information available for 2020: Beginning Ending Balance Balance $5,700 $6,200 Raw Materials Inventory Work in Process Finished Goods 24,900 31,400 48,900 42,700 Additional information for 2020: Raw Material $84,000 Purchases Factoły Insurance 13,200 Direct Labor 128,000 Factory Depreciation 38,900 Advertising Expenses 24,700 Factory Utilities 18,300 Indirect Materials 11,400 Used Marketing Manager's 94,000 Salary Office Utilities 1146

Answer 1

Solution : ① Direct Material cost for 2020- 1883,500 no mantenint labour cost for 2020 $57,000 Total factory overhead for 2020 = $ 176,300 Cost of goods manufactured $ 381,300 cost of goods Sold $ 3,87,500 Glos profit = 388,750. REDMI NOTE 6 PRO MIDUAL CAMERA

O Direct Material Cost Solution : $5700 Opening Hook of Raw material Add purchases $24,000 lex: clocing Stook of Rato me toco (96200) $83,500 Indirect factory labour cost : Total factory Tel:- Direct labour cost Cost 185,000 (128,000) $57,000 Totau factory Overhead Cost :- factory & 13,200 incusance factory Depieciation factory utilities Indirect Material used 1 $ 38,900 & 18,300 $ 11,400 $ 21,200 factory Repaire factory property tov factory labour $ 16,300 $57,000 176,300

Cost of google manufactured Direct matorial Direct labou prime cost $83,500 9128,000 2.1.500 176.300 Add overhead factory $ 387,800 factory cost Add :- opening wore-in-Progren Q4.900 lex: closing wore-in - Progogen (31,400) Cost y goods Manufactwed $ 381,300 $381,300 # 48900 cost ¢ goods Manufactured Add! Opening Stown of fingeben goods closing fineshed goods. Gost of goods sold les : (442,700) $387,500 geon Profit . - Sales Revenue heu - Prime Cost $ 6,00,000 (9, 11,500) → $388.500 GROSS PROFIT EDMI NOTE 6 PRO DUAL CAMERA