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Personal Protective Gears & More (PPGM) design and manufacture masks for students. After production, the masks are placed into individual cases, before being transferred into Finished Goods. The accounting records of the business reflect the following data at June 30, 2021, for the manufacturing of masks for Mount Marlie High School. Inventory Raw Materials Factory Supplies Work in Progress | $348,300 Finished Goods 1/7/2020 30/6/2021 $230,000 $35,000 $260,000 $24,000 $203.300 $485,000 $632,900 Other information: Sales Revenue | Factory Supplies Purchased Direct Factory Labor Raw Materials Purchased Plant janitorial service Depreciation: Plant & Equipment Total Utilities ! Production Supervisor's Salary $5.731,000 64,000 792,000 560,000 37,000 186,000 481,250 450,000

Personal Protective Gears & More (PPGM) design and manufacture masks for students. After production, the masks are placed into individual cases, before being transferred into Finished Goods. The accounting records of the business reflect the following data at June 30, 2021, for the manufacturing of masks for Mount Marlie High School. Inventory Raw Materials Factory Supplies Work in Progress | $348,300 Finished Goods 1/7/2020 30/6/2021 $230,000 $35,000 $260,000 $24,000 $203.300 $485,000 $632,900 Other information: Sales Revenue | Factory Supplies Purchased Direct Factory Labor Raw Materials Purchased Plant janitorial service Depreciation: Plant & Equipment Total Utilities ! Production Supervisor's Salary $5.731,000 64,000 792,000 560,000 37,000 186,000 481,250 450,000

FINANCIAL ACCOUNTING
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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c) Prepare an income statement for personal Protective Gears & More for the year ended June 30, 2021.
List the non-manufacturing overheads in order of size starting with the largest. 

Personal Protective Gears & More (PPGM) design and manufacture masks for students. After production, the masks are placed into individual cases, before being transferred into Finished Goods. The accounting records of the business reflect the following data at June 30, 2021, for the manufacturing of masks for Mount Marlie High School. Inventory 1/7/2020 30/6/2021 Raw Materials $230,000 $260,000 Factory Supplies Work in Progress $348,300 Finished Goods $35,000 $24,000 $203.300 $485,000 $632,900 Other information: Sales Revenue Factory Supplies Purchased Direct Factory Labor Raw Materials Purchased Plant janitorial service Depreciation: Plant & Equipment $5,731,000 64,000 792,000 560,000 37,000 186,000 Total Utilities ' 481,250 450,000 26,000 Production Supervisor's Salary Design Costs (School Logo) Packaging Cases Cost Total Insurance 2 Delivery Vehicle Drivers’ Wages Depreciation: Delivery Vehicle Property Taxes 3 Administrative Wages & Salaries | Advertising & Selling Expenses 42,000 168,000 181,500 53,290 240,000 801,250 1% of Sales Revenue "Of the total utilities, 80% relates to manufacturing and 20% relates to general and administrative costs. 2 Of the total insurance, 66%% relates to the Factory Plant & Equipment & 33%% relates to general & administrative costs. 3 The property taxes should be shared: 75% manufacturing & 25% general & administrative costs
Transcribed Image Text:Personal Protective Gears & More (PPGM) design and manufacture masks for students. After production, the masks are placed into individual cases, before being transferred into Finished Goods. The accounting records of the business reflect the following data at June 30, 2021, for the manufacturing of masks for Mount Marlie High School. Inventory 1/7/2020 30/6/2021 Raw Materials $230,000 $260,000 Factory Supplies Work in Progress $348,300 Finished Goods $35,000 $24,000 $203.300 $485,000 $632,900 Other information: Sales Revenue Factory Supplies Purchased Direct Factory Labor Raw Materials Purchased Plant janitorial service Depreciation: Plant & Equipment $5,731,000 64,000 792,000 560,000 37,000 186,000 Total Utilities ' 481,250 450,000 26,000 Production Supervisor's Salary Design Costs (School Logo) Packaging Cases Cost Total Insurance 2 Delivery Vehicle Drivers’ Wages Depreciation: Delivery Vehicle Property Taxes 3 Administrative Wages & Salaries | Advertising & Selling Expenses 42,000 168,000 181,500 53,290 240,000 801,250 1% of Sales Revenue "Of the total utilities, 80% relates to manufacturing and 20% relates to general and administrative costs. 2 Of the total insurance, 66%% relates to the Factory Plant & Equipment & 33%% relates to general & administrative costs. 3 The property taxes should be shared: 75% manufacturing & 25% general & administrative costs
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