Required: a) Calculate the raw material used by Personal Protective Gears & More. b) Calculate the factory supplies used by Personal Protective Gears & More. c) What is the total factory overhead costs incurred by Personal Protective Gears & More during the period? d) Determine the prime cost & conversion cost of the masks manufactured. e) Prepare a schedule of cost of goods manufactured for the year ended June 30, 2021, clearly showing total manufacturing cost & total manufacturing costs to account for. f) 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. g) What is the selling price per mask if Personal Protective Gears manufactured 1,850 masks for the period under review and uses a mark-up of 25% on cost? h) How does the format of the income statement for a manufacturing concern differ from the income statement of a merchandising entity?
Required:
a) Calculate the raw material used by Personal Protective Gears & More.
b) Calculate the factory supplies used by Personal Protective Gears & More.
c) What is the total
period?
d) Determine the prime cost & conversion cost of the masks manufactured.
e) Prepare a schedule of cost of goods manufactured for the year ended June 30, 2021, clearly showing
total manufacturing cost & total manufacturing costs to account for.
f) 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.
g) What is the selling price per mask if Personal Protective Gears manufactured 1,850 masks for the
period under review and uses a mark-up of 25% on cost?
h) How does the format of the income statement for a manufacturing concern differ from the income
statement of a merchandising entity?
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa08fb0da-d8f9-4aa4-aed9-2641d6981eda%2F97d2afeb-1a66-4f7d-a1d3-58abe1c2650f%2F9zoh34q_processed.png&w=3840&q=75)
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Prepare a schedule of cost of goods manufactured for the year ended June 30, 2021, clearly showing
total manufacturing cost & total
Determine the prime cost & conversion cost of the masks manufactured.
g) What is the selling price per mask if Personal Protective Gears manufactured 1,850 masks for the
period under review and uses a mark-up of 25% on cost?
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