Please solve sub-parts D, E and F Part 1Shades of the Caribbean design and manufacture sun-glasses for the tourism sector. The accountingrecords of the business reflect the following data at June 30, 2018:Inventory1/7/201730/6/2018Raw Materials $230,000 $260,000Factory Supplies$35,000 $24,000Work in Progress $358,000 $213,000Finished Goods $975,400 $585,000Other information:Sales RevenueFactory Supplies PurchasedDirect Factory LaborRaw Materials PurchasedPlant janitorial serviceDepreciation: Plant & EquipmentTotal Utilities 1Production Supervisor's SalaryHiring of Specialized Manufacturing EquipmentInsurance on Plant & EquipmentDelivery Vehicle Drivers' WagesDepreciation: Delivery VehicleProperty Taxes 2Administrative Wages & SalariesAdvertising Expenses$5,675,00064,000792,000560,00037,000186,000481,250450,00068,000112,000189,00053,850240,000850,7501% of Sales Revenue1 Of the total utilities, 80% relates to manufacturing and 20% relates to general and administrative costs.2 The property taxes should be shared: 75% manufacturing & 25% general & administrative costsRequired:(A) Calculate the raw mate factory supplies used by Shades of the Caribbean:(B) What is the total manufacturing overhead cost incurred by Shades of the Caribbean during theperiod?(C) Determine the prime cost & conversion cost of the product manufactured.(D) Prepare a schedule of cost of goods manufactured for the year ended June 30, 2018, clearlyshowing total manufacturing costs & total manufacturing costs to account for.(E) Prepare an income statement for the year ended June 30, 2018, clearly showing the calculation ofCost of Goods sold. List the non-production overheads in order of size starting with the largest.COS(F) Given that the company manufactured 1,600 sun-glasses, compute the company's unit product costfor the year.

Calculation of Cost of Goods Manufactured Particular Amount ($) Amount ($) Beginning Raw…

Part 1 Shades of the Caribbean design and manufacture sun-glasses for the tourism sector. The accounti records of the business reflect the following data at June 30, 2018: Inventory 1/7/2017 30/6/2018 Raw Materials $230,000 $260,000 Factory Supplies $35,000 $24,000 Work in Progress $358,000 $213,000 Finished Goods $975,400 $585,000 Other information: Sales Revenue Factory Supplies Purchased Direct Factory Labor Raw Materials Purchased Plant janitorial service Depreciation: Plant & Equipment Total Utilities $5,675,000 64,000 792,000 560,000 37,000 186,000 481 250

Part 1 Shades of the Caribbean design and manufacture sun-glasses for the tourism sector. The accounti records of the business reflect the following data at June 30, 2018: Inventory 1/7/2017 30/6/2018 Raw Materials $230,000 $260,000 Factory Supplies $35,000 $24,000 Work in Progress $358,000 $213,000 Finished Goods $975,400 $585,000 Other information: Sales Revenue Factory Supplies Purchased Direct Factory Labor Raw Materials Purchased Plant janitorial service Depreciation: Plant & Equipment Total Utilities $5,675,000 64,000 792,000 560,000 37,000 186,000 481 250

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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