Feasibility Study:- 8
Add:- Architect's Fees:- 100
Add:- Site Clearance:- 80
Add:- Construction materials:- 600
Add:- Cost of own inventories :- 30
Add:- Internal construction staff salaries:-360
Add:- ExternaL Contractor cost:- 2400
Total:- 3578
8 600 QUESTION 2 a. The following costs were incurred by Barak Klever Ltd in 2020...
8 600 QUESTION 2 a. The following costs were incurred by Barak Klever Ltd in 2020 in the design and construction of a new office building over a nine-month period during 2020: GH&000 Feasibility study Architects' fees 100 Site clearance (by external demolition professionals) 80 Construction materials Cost of own inventories used in the construction (net realisable value if sold outside the company GH¢24,000) 30 Internal construction staff salaries during period of construction 360 External contractor costs 2,400 Income from...
SECTION A (40 marks): Answer ALL Questions in this section. QUESTION ONE a) Aseda Ltd incurred the following cost in its manufacturing operations GH¢ Cost of material purchase 20,000 Import duties 400 Trade discount @10% of purchase cost Cash discount 500 Irrecoverable taxes 1,000 Salary of factory plant operator 2,500 Direct labour 5,000 Salary of factory supervisor 4,000 Cost of expected production losses 800 Administrative overhead (Note) 16,000 Cost of storage of raw material for further processing 2,000 Marketing cost...
Pharoah Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order.Debit1.Excavation costs for new building$18,0002.Architect’s fees on building plans28,0003.Full payment to building contractor635,0004.Cost of real estate purchased as a plant site (land $250,000 and building $25,000)275,0005.Cost of parking lots and driveways24,0006.Accrued real estate taxes paid at time of purchase of land2,6707.Installation cost of fences around property6,3008.Cost of demolishing building to make land suitable for construction of new building26,0009.Real...