Calculate the raw materials used by canine nutritionists and calculate the the indirect materials Part 1Canine Nutritionists is a manufacturer of grains for dogs. The following information pertains to operations duringthe 2021 calendar year.Inventory Data:Raw MaterialsIndirect Materials1/1/2021 Purchases 31/12/2021$750,000 $4,330,00055,000 320,000924,0001,142,600Work in ProgressFinished GoodsThe following additional information is also available:Sales RevenueDirect Factory LaborIndirect Factory LaborTotal Depreciation ¹Total Utilities 2Distribution & Customer Service CostsInsurance on Plant & EquipmentProperty Taxes 3Administrative Wages & SalariesAdvertising ExpensesSales Commissionn/an/a$807,00071,500814,7501,720,200$14,776,0004,371,0001,232,250400,000525,00076,800585,00090,0001,076,00057,7005% of Sales Revenue1 Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general andadministrative costs.2 Of the total utilities, 75% relates to manufacturing and 25% relates to general and administrative costs.3 The property taxes should be shared: 85% manufacturing & 15% general & administrative costs.

Direct Cost :— It is the cost that are directly incurred in the manufacturing of product during the…

Part 1 Canine Nutritionists is a manufacturer of grains for dogs. The following information pertains to operations during the 2021 calendar year. Inventory Data: Raw Materials Indirect Materials Work in Progress Finished Goods The following additional information is also available: Sales Revenue Direct Factory Labor Indirect Factory Labor Total Depreciation ¹ Total Utilities 2 1/1/2021 Purchases 31/12/2021 $750,000 $4,330,000 55,000 320,000 924,000 1,142,600 Distribution & Customer Service Costs Insurance on Plant & Equipment Property Taxes 3 Administrative Wages & Salaries Advertising Expenses Sales Commission n/a n/a $807,000 71,500 814,750 1,720,200 $14,776,000 4,371,000 1,232,250 400,000 525,000 76,800 585,000 90,000 1,076,000 57,700 5% of Sales Revenue 1 Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general and administrative costs. 2² Of the total utilities, 75% relates to manufacturing and 25% relates to general and administrative costs. 3 The property taxes should be shared: 85% manufacturing & 15% general & administrative costs.

Part 1 Canine Nutritionists is a manufacturer of grains for dogs. The following information pertains to operations during the 2021 calendar year. Inventory Data: Raw Materials Indirect Materials Work in Progress Finished Goods The following additional information is also available: Sales Revenue Direct Factory Labor Indirect Factory Labor Total Depreciation ¹ Total Utilities 2 1/1/2021 Purchases 31/12/2021 $750,000 $4,330,000 55,000 320,000 924,000 1,142,600 Distribution & Customer Service Costs Insurance on Plant & Equipment Property Taxes 3 Administrative Wages & Salaries Advertising Expenses Sales Commission n/a n/a $807,000 71,500 814,750 1,720,200 $14,776,000 4,371,000 1,232,250 400,000 525,000 76,800 585,000 90,000 1,076,000 57,700 5% of Sales Revenue 1 Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general and administrative costs. 2² Of the total utilities, 75% relates to manufacturing and 25% relates to general and administrative costs. 3 The property taxes should be shared: 85% manufacturing & 15% general & administrative costs.

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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