mmunication II Section XMicrosoft OneDrive - Acc X ccjfinalexamtimetablese xDocumere.com/edit.aspx?action3Deditnew&resid%3D387C20AAA4FE5EB!188&ithint-file%2cdocx&action=editneyDriveSearch (Alt + Q)eferencesReviewViewHelpEditing vA A B IU vEv E E E EA vREQUIREDA. Prepare the Manufacturing, Trading, Profit and Loss Account for Furnishing Homes for the periodending June 30, 2015.Showing clearly:- Cost of raw materials consumedPrime cost- Factory cost of goods produced- Selling and distribution expenses- General administrative expensesB. Calculate: The production cost per decorative tile completed 80%ACCTI201Question 3The following information for the period ending June 30, 2015, was taken from the books ofFurnishing Homes, manufacturers of decorative tiles.2$12 00040 000Carriage in on raw materialsOpening sock of raw materialsPurchase of raw materialsPurchases returns160 00062 00030 000Closing stock of raw materialsProduction wagesDirect factory wagesWork in progress- July 1, 2014Work in progress- June 30, 2015Overhead:47 0006 00013 00021 0008 00028 00011 0007 50012 50015 000InsuranceSalariesLight & powerTelephoneDepreciationRentEach overhead cost is apportioned on the following basis:FactorySelling & distributionGeneral administration50%20%30%The number of decorative tiles done and sold during the period was 50 000 at $7 per tile.

Duestion 3 The following information for the period ending June 30, 2015, wa. Furnishing Homes, manufacturers of decorative tiles. 24 12 000 Carriage in on raw materials Opening sock of raw materials Purchase of raw materials 40 000 160 00 62 000 Purchases returns 30 000 47 000 Closing stock of raw materials Production wages Direct factory wages Work in progress- July 1, 2014 Work in progress- June 30, 2015 Insurance Salaries 6 000 13 000 21 000 8 000 Overhead: Light & power Telephone Depreciation Rent 28 000 11 000 7 500 12 500 15 000 Each overhead cost is apportioned on the following basis:

Duestion 3 The following information for the period ending June 30, 2015, wa. Furnishing Homes, manufacturers of decorative tiles. 24 12 000 Carriage in on raw materials Opening sock of raw materials Purchase of raw materials 40 000 160 00 62 000 Purchases returns 30 000 47 000 Closing stock of raw materials Production wages Direct factory wages Work in progress- July 1, 2014 Work in progress- June 30, 2015 Insurance Salaries 6 000 13 000 21 000 8 000 Overhead: Light & power Telephone Depreciation Rent 28 000 11 000 7 500 12 500 15 000 Each overhead cost is apportioned on the following basis:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Entries for Materials GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows: Fabric Polyester filling Lumber Glue The materials purchased during June are summarized from the receiving reports as follows: Fabric Polyester filling Lumber Glue Job 601 $40,500 28,600 62,400 6,550 Materials were requisitioned to individual jobs as follows: Job 602 Job 603 $440,000 180,000 360,000 40,000 Fabric $205,000 110,000 130,000 Polyester Filling Lumber $75,000 $120,000 36,000 88,000 55,000 125,000 Glue Total $400,000 234,000 310,000
CengageNOWv2 | Online teachin x + genow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress... A A ★ F Selected accounts with some amounts omitted are as follows: Work in Process Aug. 1 Balance 253,960 Aug. 31 Goods finished 194,700 31 Direct materials X 31 Direct labor 35,500 X 31 Factory overhead Factory Overhead Aug. 1-31 Costs incurred 100,050 Aug. 1 Balance 13,280 31 Applied (30% of direct labor cost) X If the balance of Work in Process on August 31 is $212,000, what was the amount debited to Work in Process for direct materials in August? Oa. $306,760 Ob. $106,590 Oc. $501.460 Od. $77,460 8:16 A 5/2/202 LOM OL ▬▬ JUB M & 7 U 8 CF10 P
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elearn.squ.edu الإنجليزية Google Translate ounting || fall20 Char Company XYZ uses direct labor hours to allocate its manufacturing overhead. Manufacturing overhead was estimated to be $490,000 for the year. Actual manufacturing overhead was $415,000 and actual labor hours were 22,000. The estimated direct labor hours for the year was 20,000. The amount of manufacturing overhead applied to production would be: Select one: O a. $539,000 O b. $490,000 O c. None of the answers given O d. $528,000 O e. $445,455 Which of following is not correct about normal costing? Select one: O a. Product cost does not include selling and administrative expenses O b. Actual direct labor cost is traced to jobs Oc. Predetermined rate is used to apply direct manufacturing costs Od. Product .cost includes the traced actual direct materials 9448A
Current Attempt in Progress Tamarisk Company reports the following costs and expenses in May. Factory utilities Depreciation on factory equipment Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary From the information: $14,800 12,120 3,840 47,120 77,440 132,480 8,000 Direct labor Sales salaries Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used $66,480 44,320 2,400 1,280 1,920 14,400 2,510
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