. The following costs and inventory data were taken from the accounts of Pius Company for 2019:
January 1, 2019 December 31, 2019
Inventories:
Raw materials $8,000 $ 7,000
Work in process 15,000 13,000
Finished goods 16,000 12,000
Costs incurred:
Raw materials purchases $88,000
Direct labour 42,000
Factory rent 8,000
Factory utilities 2,000
Indirect materials (inventoried separately from other materials) 4,000
Indirect labour 6,000
Selling expenses 5,000
Administrative expenses 12,000
a. Prepare a schedule showing the direct materials used in production during the year. (2 marks)
b. Calculate the amount of manufacturing overhead incurred during the year. (2 marks)
c. Prepare a schedule of Cost of Goods Manufactured for Pius Company for the year ended December 31, 2019 in good form. (4 marks) You may omit headings.
d. Prepare the Cost of Goods Sold section of the Income Statement for Pius Company for the year ended December 31, 2018 in good form. (2 marks) You may omit headings.
Hope this helps you,Thank you!?
. The following costs and inventory data were taken from the accounts of Pius Company for...
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