Question 19The following information relates to M LtdAt 30th Sepiember20001999S000S00Stock of raw materials7050Work in progressStock of finished goodsFor the year ended 30th September 2000607010090Purchases of raw materialsManufacturing wagesFactory overheads$165,000$30,000$40,000The prime cost of production in the manufacturing account for the year ended 30thSeptember 2000 is:$. .

Name: Question 19The following information relates to M LtdAt 30th Sepiembe
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Question 19The following information relates to M LtdAt 30th Sepiember20001999S000S00Stock of raw materials7050Work in progressStock of finished goodsFor the year ended 30th September 2000607010090Purchases of raw materialsManufacturing wagesFactory

We have the following information: Stock of raw materials2000: $70,0001999: $50,000 Work in…

Business

Accounting

Question 19 The following information relates to M Ltd At 30th Sepieniber 2000 1999 S000 S000 50 70 Stock of raw materials 70 Work in progress Stock of finished goods For the year ended 30th September 2000 Purchases of raw materials Manufacturing wages Factory overheads 60 100 90 $165,000 $30,000 $40,000 The prime cost of production in the manufacturing account for the year ended 30th September 2000 is: $. .

Question 19 The following information relates to M Ltd At 30th Sepieniber 2000 1999 S000 S000 50 70 Stock of raw materials 70 Work in progress Stock of finished goods For the year ended 30th September 2000 Purchases of raw materials Manufacturing wages Factory overheads 60 100 90 $165,000 $30,000 $40,000 The prime cost of production in the manufacturing account for the year ended 30th September 2000 is: $. .

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

10 Opening stock of Raw material is 20000 OMR, Prime cost is 86000 OMR, and Factory overheads are 10 % of prime cost, Cost of production 94600 OMR, Opening stock of work in progress is 20000, and closing stock of Work in progress is 13750 OMR, Cost of goods manufactured 290800 OMR, Opening stock of finished goods is 20000, and closing stock of finished goods is 13750 OMR, Calculate unit production cost if total manufacturing units was 5000 ed out of question Select one: a. 18.920 OMR per unit b. 18.50 OMR per unit c. 13.800 OMR per unit d. None of These Clear my choice
3. Purchases of materials P10,000; Direct labor4,000; Manufacturing overhead P2,000; Materials beginning P1,000; Materials ending P2,000; Work in Process beginning P4,000; Work in Process ending P2,000. Cost of goods manufactured is choices: 15,000 16,000 17,000 18,000
48.
14. You are given the following Company Information Company LFrom the point of origin Direct materials 120.000Purchases of direct materials 228000Direct labour costs 610000Direct cost initial cost 780000 The stock cost of direct materials is the amount?
QUESTION 15 The following data relate to Process 2 of Danvee Ltd, a camera film manufacturer, for the financial year ended 31 December 2020. At the beginning of the year, there were 800 units partly completed which had the following values: Value GHC Percentage complete Input material (from process 1) 8,200 100 Material introduced 5,600 55 Labour 3,200 60 Overheads 2,400 45 During the period, 4300 units were manufactured from Process 1 at a value of GHC46,500. Other costs were: GHC Material introduced 24,000 Labour 19,500 Overheads 18,200 At the end of the year, the closing WIP was 600 units which were at the following stages of completion:- Input material - 100% complete Material introduced - 50% complete Labour - 45% complete Overheads - 40% complete The balance of 4500 was transferred to finished goods. Required: (i) Calculate the value of units transferred to finished goods and the value of WIP using the FIFO method. (ii) Prepare the Process 2 Account using the FIFO method (iii)…
According to the information given in the table below, which of the following is Cost of Production? Raw materials consumed 184000 Wages 56000 Factory overhead 37 % of prime cost Interest expense 9500 Taxes 3300 Select one: a. 339300 b. 341500 c. 336000 d. 328800
pls help asap
D Question 35 The following information was taken from Cavite Company's accounting records for the year ended December 31, 2003: Decrease in raw materials inventory, P500,000 Increase in goods in process inventory, P1,500,000 Increase in finished goods inventory, P1,000,000 Raw materials purchased, P20,000,000 Direct labor payroll, P5,000,000 Factory overhead, P3,000,000 Freight out, P2,000,000 Freight in, P2,500,000 The cost of goods sold is Note for your final answer: 1. Do not use peso sign 2. Do not use comma 3. Do not use decimal point 4. Round off your final answer to the nearest whole number
Please assist with this question
According to the information given in the table below, which of the following is Cost of Production? Raw materials consumed 135000 Direct labor 87000 Factory overhead 60 % of purchases Administrative expenses 28500 Purchases 120000 Select one: a. 294000 b. 335000 c. 367300 d. 322500
when the company purchases raw materials for $60,000 on account, the entry should include: * A debit to Raw Materials Inventory O $60,000 and a credit to Accounts Payable $60,000 A debit to Raw Material Inventory O $60,000 and a credit to Cash $60,000 A debit to Direct Material $60,000 and a credit to Accounts Payable $60,000 None of the above
Question 3 Ashale Botwe Ltd has the following cost and expense data for the year ending December 31, 2022. Direct materials (GHC) Work in process (GH¢) Finished goods (GH¢) Insurance factory Property taxes on factory building Materials purchases Sales Indirect materials Delivery expenses Sales commissions Indirect labour 1/1/22 Factory machinery rent Factory utilities Direct labour 30,000 80,000 110,000 Other items of revenue and cost during the year are as follows: (GHC) 31/12/22 20,000 50,000 120,000 Direct materials used b) Total manufacturing cost c) Statement of cost of goods manufactured d) Prime cost e) Conversion cost f) Cost of goods available for sale g) Cost of goods sold h) Gross profit i) Period cost j) Net income 14,000 6,000 205,000 1,500,000 15,000 100,000 150,000 90,000 40,000 ARI 65,000 350,000 24,000 35,000 300,000 Depreciation, factory building Factory manager's salary Administrative expenses For the year 2022, you are required to compute the following: