Francis manufacturers, a manufacturer of wood doors and windows, has prepared the following list of accounts Advertising Assemblers wages Production supervisor's salary Depreciation of machinery Factory utilities Lathe machine (machine for shaping wood) Operators wages Machinery repairs Office salaries Purchase of glue Purchase of screws and nails $36,000 84,200 21,400 9,200 55,600 66,400 22,600 113,800 1,600 800 Purchase of pine Purchase of oak 99,000 250,000 There is no beginning or ending inventory. Calculate the following: (а) (b) (c) Direct material used Direct labour cost (d) (e) (f) Prime cost Conversion cost Production cost Factory overhead

Francis manufacturers, a manufacturer of wood doors and windows, has prepared the following list of accounts Advertising Assemblers wages Production supervisor's salary Depreciation of machinery Factory utilities Lathe machine (machine for shaping wood) Operators wages Machinery repairs Office salaries Purchase of glue Purchase of screws and nails $36,000 84,200 21,400 9,200 55,600 66,400 22,600 113,800 1,600 800 Purchase of pine Purchase of oak 99,000 250,000 There is no beginning or ending inventory. Calculate the following: (а) (b) (c) Direct material used Direct labour cost (d) (e) (f) Prime cost Conversion cost Production cost Factory overhead

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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please answer ques no. 8,9
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Aelan Products Company, a small manufacturer, has submitted the items below concerning last year's operations. The president's secretary, trying to be helpful, has alphabetized the list. Administrative salaries $4,800 Advertising expense 2,400 Depreciation—factory building 1,600 Depreciation—factory equipment 3,200 Depreciation—office equipment 360 Direct labour cost 43,800 Raw materials inventory, beginning 4,200 Raw materials inventory, ending 6,400 Finished goods inventory, beginning 93,960 Finished goods inventory, ending 88,820 General liability insurance expense 480 Indirect labour cost 23,600 Insurance on factory 2,800 Purchases of raw materials 29,200 Repairs and maintenance of factory 1,800 Sales salaries 4,000 Taxes on factory 900 Travel and entertainment expense 2,820 Work in process inventory, beginning 3,340 Work in process inventory, ending 2,220…
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A list of accounts and their values are given above. From this information, prepare a cost of goods manufactured schedule.
Instructions: (a) Prepare the cost of goods manufactured schedule. (b) Compute the cost of goods sold.
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