Westlake, Inc. produces metal fittings for the aerospace industry. The administrative and manufacturing operations occupy the same 200,000 square foot building. The manufacturing plant uses 150,.000 square feet. Depreciation is assigned based on building use. Indirect labor represents 15 percent of the total manufacturing plant labor. The financial information for the year just ended is shown as follows. (Thousands of dollars) Administrative costs $ 230 Total building depreciation Direct materials inventory, January 1 Direct materials inventory, Decenber 31 Direct materials purchased during the year Finished goods inventory, December 31 540 22 27 1,577 87 Indirect labor 222 Maintenance on plant machinery Marketing costs Operating profit Other plant overhead Plant supervision and administration Plant supplies and indirect materials Sales revenue Taxes on manufacturing property Work-in-process inventory, January 1 Work-in-process inventory, Decenber 31 147 127 754 90 162 74 5,700 124 87 117

Westlake, Inc. produces metal fittings for the aerospace industry. The administrative and manufacturing operations occupy the same 200,000 square foot building. The manufacturing plant uses 150,.000 square feet. Depreciation is assigned based on building use. Indirect labor represents 15 percent of the total manufacturing plant labor. The financial information for the year just ended is shown as follows. (Thousands of dollars) Administrative costs $ 230 Total building depreciation Direct materials inventory, January 1 Direct materials inventory, Decenber 31 Direct materials purchased during the year Finished goods inventory, December 31 540 22 27 1,577 87 Indirect labor 222 Maintenance on plant machinery Marketing costs Operating profit Other plant overhead Plant supervision and administration Plant supplies and indirect materials Sales revenue Taxes on manufacturing property Work-in-process inventory, January 1 Work-in-process inventory, Decenber 31 147 127 754 90 162 74 5,700 124 87 117

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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