In the books of BaseBawl Co. | |||||||
Cost statement as on 31st Dec 2018 | |||||||
Particulars | Amt (in $) | Notes:- | |||||
Direct materials :- | 1. Assuming that the information provided about the closing stock is in Monetary Terms and not in units . | ||||||
Plastic Card Material | 4,00,000.00 | ||||||
Direct labour costs :- | |||||||
Admin production Labour | 20,000.00 | ||||||
Cutting Labor Costs | 1,00,000.00 | ||||||
Prime Costs | 5,20,000.00 | ||||||
Add :- | |||||||
Rent for cutting Machine | 50,000.00 | ||||||
Heat for Store | 40,000.00 | ||||||
Power For MFG Floor | 15,000.00 | ||||||
Factory Overheads | 6,25,000.00 | ||||||
Add :- Opening WIP | 10,000.00 | ||||||
Less :- Closing WIP | (5,000.00) | ||||||
Cost of Production / Cost of Goods MFG | 6,30,000.00 | ||||||
Add:- Opening FG | 8,000.00 | ||||||
Less:- Closing FG (Note 1) | (4,000.00) | ||||||
Cost Of Goods Sold | 6,34,000.00 |
The following costs have been provided to you for BazeBawl Co., which manufactures and sells Baseball...
You have been asked by the CEO of Mountaineer Co. to assist in analyzing product costs. This analysis is used in internal decision making and in reporting to investors. The following Tableau Dashboard provides data needed for the analysis. Raw Materials Inventories Raw materials, beginning Raw materials purchases Raw materials used Romaterials anding $0 $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 Work in Process & Finished Goods Inventories Work in Process Finished Goods Rent expense. Factory $50,000 54,000 50,000...
ABC Ltd manufactures products to the precise specifications of individual customers in three separate production departments. It also has two service departments. The following overhead costs are predicted to occur during the coming year: Total Rent and rates (£) 15,000 Machine insurance (£) 10,000 Telephone charges () 5,000 Depreciation (£) 20,000 Production supervisors' salaries (£) 25,000 Heating/lighting (E) 10,000 85,000 Details relating to each department are given below: Production Service Total Cutting Machining Pressing Stores Maint- enance Floor area occupied...
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ABC Ltd manufactures products to the precise specifications of individual customers in three separate production departments. It also has two service departments. The following overhead costs are predicted to occur during the coming year: Total Rent and rates (£) 15,000 Machine insurance (£) 10,000 Telephone charges () 5,000 Depreciation (£) 20,000 Production supervisors' salaries (£) 25,000 Heating/lighting (E) 10,000 85,000 Details relating to each department are given below: Production Service Total Cutting Machining Pressing Stores Maint- enance Floor...
Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View -ut interruption, please reactivate now. Reactivate Enable Editing MERIWELL COMPANY I Finished goods inventory, beginning Finished goods inventory, ending Depreciation, factory Administrative expenses Utilities, factory Maintenance, factory Supplies, factory Insurance, factory Purchases of raw materials Raw materials inventory, beginning Raw materials inventory, ending Direct labour Indirect labour Work in process inventory, beginning Work in process inventory, ending Sales Selling expenses $20,000 40,000 27,000 110,000...
. 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...
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a. Which of the following statements about managerial accounting is true? 1) Managerial accounting information is prepared for external users. 2) Managerial accounting information is a legal requirement. 3) The structure of managerial accounting practice is relatively flexible. 4) There are structured standards of acceptability for managerial accounting. b. Which of the following statements is incorrect with regard to a manufacturing firm? 1) Inventoriable costs include only prime costs. 2) Inventoriable costs include prime costs and manufacturing overhead costs. 3)...
Olympians Inc. manufactures and sells a unique product. The following data are extracted from the accounting records at December 31, 2017: Work in progress, ending Commissions Depreciation-factory Finished goods inventory, ending Other manufacturing overhead Rent Accounts receivable Supplies Direct materials, beginning Mortgage Production (units) Purchases direct materials Sales S Finished goods, beginning Prime costs (total) Direct labour Direct materials, ending Depreciation- equipment General office salaries Advertising Work in progress, beginning $67,000 230,000 To be determined To be determined 17,000 100,000...
Ember Manufacturing Company is a manufacturer that produces a single product. The following information has been taken from the company's production, sales, and cost records for the month of January, 2019. Purchases, raw material Maintenance, factory Direct labour 80,000 20,000 140,000 12,000 8,000 3,000 Indirect Material, factory Insurance 1,000 3,600 Depreciation, administrative office equipment Cleaning Supplies, factory Salary expense, Accounting department Salary expense, Human resources Salary expense, Sales and marketing Salary, factory supervisor Salary, factory security Office supplies Depreciation, manufacturing...
You have been asked by the CEO of Mountaineer Co. to assist in analyzing product costs. This analysis is used in interi decision making and in reporting to investors. The following Tableau Dashboard provides data needed for the analysis Raw Materials Inventories Raw materials, beginning Raw materials purchases Raw materials used Raw materials, ending $0 $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 Work in Process & Finished Goods Inventories Work in Process Finished Goods Rent expense - Factory $50,000...