Question 59Redillas Corporation's 2021 manufacturing costs were as follows:Prime costsP 430,000Depreciation of factory equipmentDepreciation of factory building000'00IJanitor's wages for cleaning factory area i000'Salesmen's commission based on salesDepreciation for delivery vanHow much of these costs should be inventoried for external reporting purposes?O P 612,000O P 500,000O P 647,000O P 512,000Question 6OMacBook Pro

The product cost including direct and indirect cost should be treated as inventoried cost.

Answered: Question 59 Redillas Corporation's 2021…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

A part plz.. hand written plzzzzz...othereise skip
Jm. 155.
15
Problems Problem 1 The following information pertains to Mimi's Mini Treats Manufacturing Company: January 1, 20x7 December 31, 20x7 $13,000 41,000 175,000 Inventories Raw Materials Work in Process Finished Goods Other information pertaining to 20x7 Raw materials used Indirect materials used Factory wages and salaries Utilities Depreciation $59,000 6,000 120,000 16,000 26,000 $10,000 28,000 104,000 • The sales price is determined by adding a 40% mark-up to the cost of inventory. • For the expenses above, 80% of the wages relate to hands-on labour in the factory, and half (50%) of the utilities and depreciation relate to the factory. Required - a) How much raw material was purchased during 20x7? b) Prepare a schedule of cost of goods manufactured for 20x7, using actual manufacturing overhead. c) What amount of gross profit would show on Mimi's income statement for 20x7? Please show your work.
According to the information given in the table below, which of the following is Cost of Production? Raw materials consumed 184000 Wages 56000 Factory overhead 37 % of prime cost Interest expense 9500 Taxes 3300 Select one: a. 339300 b. 341500 c. 336000 d. 328800
A ezto.mheducation.com Connect avant Range Of Production Is... Saved 17e 6 Assume that a manufacturing company incurred the following costs: Direct labor $ 90,000 $ 40,000 $ 36,000 $ 15,000 $ 4,000 $5,000 $ 20,000 $ 1,000 $ 2,500 $106,000 $ 10,000 $ 7,000 Advertising Factory supervision Sales commissions Depreciation, office equipment Indirect materials Depreciation, factory building Administrative office salaries Utilities, factory Direct materials Insurance, factory Property taxes, factory What is the total amount of manufacturing overhead? Multiple Choice < Prev 2 of 57 Next
see attached
Problem 1 Purchase price of raw materials P100,000 Rebates on raw material purchases Import taxes Local taxes paid in relation to the purchase 1,500 Freight-in 12% VAT on the purchase price Interest expense related to the purchase 3,200 Utilities used on factories to 0, Wages of factory personnel Salaries of accountants 000 Depreciation of factory equipment Depreciation of the head office 00 00 2,800 Normal losses during production Abnormal losses during production General and administrative expenses Storage costs of work-in-process inventories Storage costs of finished goods inventories 00 00 Shipping costs on sale of finished goods How much is the total cost of inventories?
Cost & Management Accounting AC336 Question 3 (13 Marks) Krypton Inc. manufactures two products, Vintex and Bromal. The company estimated it would incur $160,690 in manufacturing overhead costs during the current period. Overhead currently is applied to the products on the basis of direct labour hours. Data concerning the current period's operations appear below: Estimated Volume Direct labour hours per unit Direct labour cost per unit Direct material cost per unit Activity cost pool Material acquisition costs Machine costs General factory costs Required: Activity cost pool Material acquisition costs Machine costs General factory costs Vintex 4,700 units 2.1 hours Estimated overhead costs $33.60 $4.80 The company is considering using an activity-based costing system to compute unit product costs instead of its traditional single plant-wide system based on direct labour hours. The activity- based costing system would use three activity cost pools and drivers: Driver Purchase orders…
Please do not give solution in image format thanku
35- ABC production company calculates production costs according to the phase cost system. The information of the business for the period of June 2021 is as follows: According to the information given above, what is the share of general production expenses in the cost of end-of-period semi-finished products? a) 96,000 TL B) 1.870.000 TL NS) 360.000 TL D) 192.000 TL TO) 648,000 TL
Green Apple Company's 2020 manufacturing costs were as follows: Direct materials $70,000; Direct labor $50,000; Depreciation of manufacturing equipment $85,000; Depreciation of factory building $50,000; Janitor's wages for cleaning factory premises $15,000. How much of these costs should be inventoried using the throughput accounting? $50,000 $270,000 $120,000 $70,000

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS