Question 6 Pemiagaan Kompani manufactured 100,000 units wooden crafts in 2020 and reported the following Sandpaper Materials handling Coolants & lubricants Indirect manufacturing labor Direct manufacturing labor Direct materials, 1 Jan 2020 Finished goods, 1 Jan 2020 Finished goods, 31 Dec 2020 Work-in-process, 1 Jan 2020 Work-in-process, 31 Dec 2020 Administration costs Direct materials: Beginning inventory Purchases RM 32,000 Leasing costs-plant 320,000 Depreciation equipment 22,400 Property taxes-equipment 275,200 Fire insurance-equipment 2,176,000 Direct material purchases 384,000 Direct materials, 31 Dec 2020 Ending inventory Direct manufacturing labor 672,000 Sales revenue 1,280,000 Sales commissions 96,000 Sales salaries. The following year 2021, Perniagaan Kompani had the following activities. 64,000 Advertising costs 800,000 Manufacturing overhead Beginning work-in-process inventory Ending work-in-process inventory Beginning finished goods inventory Ending finished goods inventory RM 20,000 61,600 10,400 16,000 12,000 800 4,000 24,000 16,000 h RM 384,000 224,000 32,000 16,000 3,136,000 275,200 12,800,000 640,000 576,000 480,000
Question 6 Pemiagaan Kompani manufactured 100,000 units wooden crafts in 2020 and reported the following Sandpaper Materials handling Coolants & lubricants Indirect manufacturing labor Direct manufacturing labor Direct materials, 1 Jan 2020 Finished goods, 1 Jan 2020 Finished goods, 31 Dec 2020 Work-in-process, 1 Jan 2020 Work-in-process, 31 Dec 2020 Administration costs Direct materials: Beginning inventory Purchases RM 32,000 Leasing costs-plant 320,000 Depreciation equipment 22,400 Property taxes-equipment 275,200 Fire insurance-equipment 2,176,000 Direct material purchases 384,000 Direct materials, 31 Dec 2020 Ending inventory Direct manufacturing labor 672,000 Sales revenue 1,280,000 Sales commissions 96,000 Sales salaries. The following year 2021, Perniagaan Kompani had the following activities. 64,000 Advertising costs 800,000 Manufacturing overhead Beginning work-in-process inventory Ending work-in-process inventory Beginning finished goods inventory Ending finished goods inventory RM 20,000 61,600 10,400 16,000 12,000 800 4,000 24,000 16,000 h RM 384,000 224,000 32,000 16,000 3,136,000 275,200 12,800,000 640,000 576,000 480,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
g. Calculate cost of goods sold for 2021.
h. Calculate amount of prime costs was added to production during 2021.
i. Calculate the amount of conversion costs was added to production during
2021.
Transcribed Image Text:Question 6
Pemiagaan Kompani manufactured 100,000 units wooden crafts in 2020 and
reported the following
Sandpaper
Materials handling
Coolants & lubricants
Indirect manufacturing labor
Direct manufacturing labor
Direct materials, 1 Jan 2020
Finished goods, 1 Jan 2020
Finished goods, 31 Dec 2020
Work-in-process, 1 Jan 2020
Work-in-process, 31 Dec 2020
Administration costs
Direct materials:
Beginning inventory
Purchases
RM
32,000 Leasing costs-plant
320,000 Depreciation-equipment
22,400 Property taxes-equipment
275,200 Fire Insurance-equipment
2,176,000 Direct material purchases
384,000 Direct materials, 31 Dec 2020
The following year 2021, Perniagaan Kompani had the following activities.
Ending inventory
Direct manufacturing labor
672,000 Sales revenue
1,280,000 Sales commissions
96,000 Sales salaries
64,000 Advertising costs
800,000
Manufacturing overhead
Beginning work-in-process inventory
Ending work-in-process inventory
Beginning finished goods inventory
Ending finished goods inventory
RM
20.000
61,600
10,400
16,000
12.000
800
4.000
24,000
16,000
RM
384,000
224,000
32,000
16.000
3.136.000
275,200
12,800,000
640,000
576.000
480,000
Expert Solution
Step 1 Given
- The cost of goods sold for 2021.
- The amount of prime costs added to production during 2021.
- The amount of conversion costs added to production during 2021.
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