Q2. The following data (in thousands of taka) have been taken from the accounting records of Camel Bangladesh, for the calendar year 2021. Sales Tk 870 Purchases of raw materials Tk 190 Direct labor Tk 200 Manufacturing overhead Administrative expenses Tk 230 Tk 150 Selling expenses Raw materials inventory, beginning Raw materials inventory, ending Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending Tk 140 Tk 10 Tk 40 Tk 20 Tk 50 Tk 90 Tk 130 Required: Using appropriate date for the statements, fine the cost of goods sold.

Q2. The following data (in thousands of taka) have been taken from the accounting records of Camel Bangladesh, for the calendar year 2021. Sales Tk 870 Purchases of raw materials Tk 190 Direct labor Tk 200 Manufacturing overhead Administrative expenses Tk 230 Tk 150 Selling expenses Raw materials inventory, beginning Raw materials inventory, ending Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending Tk 140 Tk 10 Tk 40 Tk 20 Tk 50 Tk 90 Tk 130 Required: Using appropriate date for the statements, fine the cost of goods sold.

Name: Q2. The following data (in thousands of taka) have been taken from th
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Q2. The following data (in thousands of taka) have been taken from the accounting records of CamelBangladesh, for the calendar year 2021.SalesTk 870Purchases of raw materialsTk 190Direct laborTk 200Manufacturing overheadAdministrative expensesTk 230

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Duqm Sugar Factory had the following data: Jan. 1, 2019 Dec. 31, 2019 Raw materials inventory OMR 80,000 OMR 64,000 Work in process inventory 104,000 116,000 Finished goods inventory 100,000 92,000 During 2019, the company purchased OMR 1,450,000 of materials, had a direct labor cost of OMR 250,000, and manufacturing overhead was OMR 160,000. The cost of goods sold is: Select one: a. 1,610,000 b. None of the answers are correct O c. 1,872,000 O d. 1,864,000 e. 1,684,000
The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $177,180 Selling expenses 59,180 Administrative expenses 31,290 Sales 376,970 Finished goods inventory, January 1 42,600 Finished goods inventory, January 31 38,830 a. For the month ended January 31, determine Bandera Manufacturing’s cost of goods sold. Bandera Manufacturing Company Cost of Goods Sold January 31 $fill in the blank 485dbcfbb05e064_2 fill in the blank 485dbcfbb05e064_4 $fill in the blank 485dbcfbb05e064_6 fill in the blank 485dbcfbb05e064_8 $fill in the blank 485dbcfbb05e064_10 b. For the month ended January 31, determine Bandera Manufacturing’s gross profit. Bandera Manufacturing Company Gross Profit January 31 $fill in the blank bdadc6f76009002_2 fill in the blank bdadc6f76009002_4 $fill in the blank bdadc6f76009002_6 c. For the month ended…
4.The following were taken from accounting records of Bella Company in December 2020.Prime cost, P301,000Gross profit rate on sales, 20%Cost of goods available for sale, P460,000Direct materials purchased, P170,000Work in process, December 1, 2020, P34,000Direct Materials, December 1, 2020, P16,000Finished goods, December 1, 2020, P30,000Factory overhead, 40% of conversion cost.Sales, P500,000Direct labor, P180,000Compute for December 31, 2020: (1) Direct materials inventory; (2) Work in process inventory; (3) Finished goodsinventory: A.(1) P6,000 ; (2) P25,400 ; (3) P30,000B. (1) P49,000 ; (2) P25,000 ; (3) P30,000C. (1) P65,000 ; (2) P25,400 ; (3) P60,000D. (1) P65,000 ; (2) P25,000 ; (3) P60,000
The following data were taken from the records of Westbrooks Company: INVENTORIES Aug. 31, 2020 Sept. 30, 2020 Raw Materials ₱00? ₱50,000 Work-in-Process ₱80,000 ₱95,000 Finished Goods ₱60,000 ₱78,000 Additional Information: Raw materials purchased ₱46,000 Factory overhead, 75% of direct labor cost ₱63,000 Selling and administrative expenses, 12.5% of sales ₱25,000 Net Income for September 2020 ₱25,000 What is the total manufacturing cost.. Show solution Group of answer choices ₱183,000 ₱200,000 ₱150,000 ₱168,000
The following information was collected from Balatas Hercules' accounting records for the year that ends on December 31, 20XX: Jan/1/20XX 31/Dec/20XX Inventory of raw materials $98000 $84000 Inventory of products-in-process $56000 $97000 Finished product inventory $42000 $105000 Direct labor: $370000 Income taxes: $301700 Indirect labor: $235140 Sales commissions: $250000 Purchases of raw materials: $842350 Factory Utilities: $152000 Advertising expenses: $68000 Factory depreciation: $521400 Factory equipment maintenance: $70120 Balatas Hercules uses a normal costing system. In the current period, Overhead costs were applied to products at a rate of $3 for each $ loaded with direct labor. The data are presented for the purpose of calculating the following information: a) Statement of cost of production and sales for 20XX. b) Difference between the Real Overhead Costs and the applied Overhead Costs, determining if there is an under or overapplication
a.Prepare statement of cost production for the year ended 31 December 2020. b.Prepare statement of comprehensive income for the year ended 31 December 2020.
Custom Hot Rods, Inc. provided you the January 31, 2021 account balances listed below: Finished Goods Inventory, January 1st Factory Supervisory Salaries Income Tax Expense Raw Materials Inventory, January 1st Work In Process Inventory, January 1st Sales Salaries Expense Factory Depreciation Expense Finished Goods Inventory, January 31st Raw Materials Purchases Work In Process Inventory, January 31st Factory Utilities Expense Direct Labor Raw Materials Inventory, January 31st Sales Returns and Allowances Indirect Labor Account Balances $41,365 14,855 6,440 16,375 14,605 24,224 8,400 65,615 163,520 24,390 16,763 117,915 32,510 21,850 39,140 Instructions Using a proper heading and format, prepare a Schedule of Cost of Goods Manufactured for Custom Hot Rods, Inc. for the month ended January 31, 2021.
Hw.52. The manufacturing concern has the following data available for the month of March 2020:Total manufacturing cost Rs. 10,000Total cost of goods manufactured Rs.15,500Cost of material purchased Rs.3,500Direct Labour Rs.2,100Direct material_ Begining Rs.3,100Direct material Ending Rs.600The amount of FOH must be RS. O a. 1,900 O b. 2,000 O C. 2,900 • d. 2,100
Uramilaben
Using the following information. a. Beginning cash balance on March 1, $81,000. b. Cash receipts from sales, $305.000. c. Cash payments for direct materials, $130.000. d. Cash payments for direct labor. $79,000. e. Cash payments for overhead, $38.00. f. Cash payments for sales commissions, $7000 g. Cash payments for interest, $130 (1% of beginning loan balance of $13,000) h. Cash repayment of loan, $13.000. Prepare a cash budget for March for Gado Company. GADO COMPANY Cash Budget March Total cash available Less: Cash payments for Total cash payments $4 Loan activity Loan balance, end of month %24 K Prev earch
<please see attatched file>
Lakeshore Manufacturing provided the following information for the month ended March 31: Sales Revenue $31,000 Beginning Finished Goods Inventory 7,000 Ending Finished Goods Inventory 8,500 Cost of Goods Manufactured 11,600 Compute gross profit. OA. $19,400 OB. $17,900 OC. $10,900 O D. $20,900 ***