All School Logos & More (ASLM) design and manufacture school uniform crests. After production, the crests are placed into individual plastie cases, before being transferred into Finished Goods. The accounting records of the business for the quarter to December 31, 2021, for the manufacturing of uniform crests for Hill Point High School are given below. Inventory Raw Materials Work in Progress 1/10/2021 31/112/2021 $72,000 $138,875 $149,500 $65,000 $129,125 $141,700 Finished Goods Other information: Sales Revenue $1,694,950 239.700 235,000 Factory Labour Raw Materials Purchased Office Cleaner's Wages Factory Supplies Used Depreciation: Factory Plant & Equipment Total Utilities! Plant Supervisor'S Salary Design Costs (School Logo) Packaging Material Cost Total Insurance Delivery Vehicle Drivers' Wages Depreciation: Delivery Vehiele Property Taxes Administrative Wages & Salaries Sales Commission 4,500 23.500 32,000 118,750 180,000 4.300 35,000 60,000 41.250 7,250 105,000 123 750 2% of Net Profit before Commission ative costs
All School Logos & More (ASLM) design and manufacture school uniform crests. After production, the crests are placed into individual plastie cases, before being transferred into Finished Goods. The accounting records of the business for the quarter to December 31, 2021, for the manufacturing of uniform crests for Hill Point High School are given below. Inventory Raw Materials Work in Progress 1/10/2021 31/112/2021 $72,000 $138,875 $149,500 $65,000 $129,125 $141,700 Finished Goods Other information: Sales Revenue $1,694,950 239.700 235,000 Factory Labour Raw Materials Purchased Office Cleaner's Wages Factory Supplies Used Depreciation: Factory Plant & Equipment Total Utilities! Plant Supervisor'S Salary Design Costs (School Logo) Packaging Material Cost Total Insurance Delivery Vehicle Drivers' Wages Depreciation: Delivery Vehiele Property Taxes Administrative Wages & Salaries Sales Commission 4,500 23.500 32,000 118,750 180,000 4.300 35,000 60,000 41.250 7,250 105,000 123 750 2% of Net Profit before Commission ative costs
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A. Determine the prime cost and conversion cost of the school crests produced
B. Prepare an income statement for personal All School Logos and More for the quarter ended December 31, 2021. List the non manufacturing overheads in order of size starting with the largest.
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