P2-4 The following data are available for White Company during the month of July 2015:P 95,000Direct materials purchased80,000Direct labor40,000Indirect materials45,000Indirect labor60,000Other indirect factory costsMarketing expensesOfficer salaries and wages72,00030,00035,000Raw materials inventory, June 3050,000Raw materials inventory, July 31Required: Calculate the following:Total manufacturing costsа.b.Total factory overhead

Direct material used = Beginning Raw material inventory + Direct Materials purchased - ending Raw…

P2-4 The following data are available for White Company during the month of July 2015: P 95,000 Direct materials purchased 80,000 Direct labor 40,000 Indirect materials 45,000 Indirect labor 60,000 Other indirect factory costs 72,000 Marketing expenses Officer salaries and wages 30,000 35,000 Raw materials inventory, June 30 Raw materials inventory, July 31 Required: Calculate the following: Total manufacturing costs Total factory overhead 50,000 a. b.

P2-4 The following data are available for White Company during the month of July 2015: P 95,000 Direct materials purchased 80,000 Direct labor 40,000 Indirect materials 45,000 Indirect labor 60,000 Other indirect factory costs 72,000 Marketing expenses Officer salaries and wages 30,000 35,000 Raw materials inventory, June 30 Raw materials inventory, July 31 Required: Calculate the following: Total manufacturing costs Total factory overhead 50,000 a. b.

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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Concept explainers

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.

Question

P2-4 The following data are available for White Company during the month of July 2015:
P 95,000
Direct materials purchased
80,000
Direct labor
40,000
Indirect materials
45,000
Indirect labor
60,000
Other indirect factory costs
Marketing expenses
Officer salaries and wages
72,000
30,000
35,000
Raw materials inventory, June 30
50,000
Raw materials inventory, July 31
Required: Calculate the following:
Total manufacturing costs
а.
b.
Total factory overhead

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