Question

LIULIU LUDUCUllulelee need some help FLOW OF COSTS PRACTICE PROBLEM Drew Corp. designs and manufacturers mascot uniforms for high school, college, and professional sports teams. During the year, the following events occurred: a. Drew purchased raw materials costing $86,000 on account. b. Drew used $93,000 of raw materials in production. Of these, 70% were classified as direct materials and 30% as indirect materials. c. Drew used 31,200 hours of direct labor. The company's average direct labor rate was $7.50 per hour. d. The company hired a security guard to watch the shop after hours. The guard's annual salary was $25,000 e. The company spent $105,000 on other manufacturing overhead costs. f. Applied manufacturing overhead was $157,900. The company completed production of goods costing $326,000. h. Drew sold uniforms costing $303,750 for $425,000 on account. tps://courseware kedu/courses/1/4209-16121/content/_8532737_1/CHAPTERAAVIRTUALECTURE3.html Type here to search O AE E

Answer 1

00 للكل Total manufacturing cost . Direet materials 65,100 Add! Purchases 86,000 Materials used Dirut labou. 2,34,000 Indhiut material 27,900 Applied manufactising OH: | 57900 Total manufatissing Cost. 570,900 Ending work in process Cost of goods manufactured – Total manufacturing Cost of goods manufactured = 303,750 – 570,000 Cost = 266,250 Endling Finished goods - Cost of goods solel – Cost of goods manufailused 326,000 – 303,750 22 25 - Seannedwith-CamScanner

bross Profit G Selling Prin Prin - Cost Price 425 000 - 326,000 99.000 cs Scannee-with-Earriscammer .