Homework Help is Here – Start Your Trial Now!
Business
Accounting
Required: Assuming no adjustments were made for any under- or overapplied overheads, prepare the following information for the Operations Manager's reference: (i) Cost of Goods Manufactured (by product line)

Required: Assuming no adjustments were made for any under- or overapplied overheads, prepare the following information for the Operations Manager's reference: (i) Cost of Goods Manufactured (by product line)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Please help me
Mazni Rusli is the Accounting Manager for Blue Bear Berhad's accounting department. Sie s extracted a partial list of accounts and their balances for 2021 from the company s accounting records: Sports Utility Wear (SUW) Division Sports-tops TOTAL Sweatpants RM RM RM Work-in-Process, 01 Jan 36,270 Work-in-Process, 31 Dec Raw Material, 01 Jan 15,390 20,880 0. Raw Material, 31 Dec 3,150 2,520 5,670 Finished Goods, 01 Jan 31,140 Finished Goods, 31 Dec Factory Labour - Direct Factory Labour - Indirect Supplies - Production Supplies - Administration Utilities - Production Utilities - Administration Depreciation - Factory Machinery Depreciation - Office Equipment Rent - Factory Rent - Office Raw Material Purchases Sales Revenue 10,260 20,880 34,800 13,200 600 21,600 450 1,050 600 600 1,200 600 6,000 6,000 12,000 6,000 13,200 6,000 7,200 3,000 18,000 18,000 36,000 12,600 4,665,600 18,000 27,300 6,091,200 14,700 1,425,600 As the cost analyst for the company, you are assigned to assist Mazni in drafting the management accounting reports to be shared with the Operations Manager, Tanjiro Kamado, before the meeting on the SUW expansion plan. The SUW division controller has provided you with additional production information for 2021: 1. Overhead is charged to each product line on the basis of direct labour hours (DLH). 2. Total estimated annual overhead costs for the SUW Division were at RM60,000. 3. Estimated DLH for each product in 2021 were 2,000 DLH for sweatpants and 3,000 DLH for sports-tops. You have also extracted the following inventory records from the inventory planning system (BIPS) for your reference: Sweatpants 480 Sports-tops 1,080 720 RM58.00 TOTAL Units Completed Units Sold 1,560 1080 360 Unit Cost RM85.50 Time tickets for 2021 records the actual direct labour hours (DLH) worked in SUW as: Sweatpants Sports-tops Direct Labour Hours (DLH) 2,640 4,320 Required: Assuming no adjustments were made for any under- or overapplied overheads, prepare the following information for the Operations Manager's reference: (i) Cost of Goods Manufactured (by product line)
Transcribed Image Text:Mazni Rusli is the Accounting Manager for Blue Bear Berhad's accounting department. Sie s extracted a partial list of accounts and their balances for 2021 from the company s accounting records: Sports Utility Wear (SUW) Division Sports-tops TOTAL Sweatpants RM RM RM Work-in-Process, 01 Jan 36,270 Work-in-Process, 31 Dec Raw Material, 01 Jan 15,390 20,880 0. Raw Material, 31 Dec 3,150 2,520 5,670 Finished Goods, 01 Jan 31,140 Finished Goods, 31 Dec Factory Labour - Direct Factory Labour - Indirect Supplies - Production Supplies - Administration Utilities - Production Utilities - Administration Depreciation - Factory Machinery Depreciation - Office Equipment Rent - Factory Rent - Office Raw Material Purchases Sales Revenue 10,260 20,880 34,800 13,200 600 21,600 450 1,050 600 600 1,200 600 6,000 6,000 12,000 6,000 13,200 6,000 7,200 3,000 18,000 18,000 36,000 12,600 4,665,600 18,000 27,300 6,091,200 14,700 1,425,600 As the cost analyst for the company, you are assigned to assist Mazni in drafting the management accounting reports to be shared with the Operations Manager, Tanjiro Kamado, before the meeting on the SUW expansion plan. The SUW division controller has provided you with additional production information for 2021: 1. Overhead is charged to each product line on the basis of direct labour hours (DLH). 2. Total estimated annual overhead costs for the SUW Division were at RM60,000. 3. Estimated DLH for each product in 2021 were 2,000 DLH for sweatpants and 3,000 DLH for sports-tops. You have also extracted the following inventory records from the inventory planning system (BIPS) for your reference: Sweatpants 480 Sports-tops 1,080 720 RM58.00 TOTAL Units Completed Units Sold 1,560 1080 360 Unit Cost RM85.50 Time tickets for 2021 records the actual direct labour hours (DLH) worked in SUW as: Sweatpants Sports-tops Direct Labour Hours (DLH) 2,640 4,320 Required: Assuming no adjustments were made for any under- or overapplied overheads, prepare the following information for the Operations Manager's reference: (i) Cost of Goods Manufactured (by product line)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Market Efficiency
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS