ACCT.PRINCIPLES-WILEYPLUS NEXTGEN
14th Edition
ISBN: 9781119709954
Author: Weygandt
Publisher: WILEY
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Question
Chapter 23, Problem 4BE
To determine
Concept Introduction:
Making or buy decisions involves, making choice between manufacturing a certain part or buying from the outside supplier. The decision, in this case, is based on incremental benefit between two alternatives.
Whether the product will be purchased or manufactured.
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Students have asked these similar questions
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1 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.
Required:
i) Calculate the raw material used in production by Unique School Supplies & Uniforms.
ii) What is the total factory overhead costs incurred by Unique School Supplies & Uniforms during the
period?
iii) Determine the prime cost & conversion cost of the knapsacks manufactured.
iv) Prepare a schedule of cost of goods manufactured for the year ended June 30, 2024, clearly showing total
manufacturing cost & total manufacturing costs to account for.
v) What is the selling price per knapsack if Unique School Supplies & Uniforms manufactured 925
knapsacks for the Debe High School and uses a mark-up of 25% on cost?
vi) How does the format of the income statement for a…
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ACCT.PRINCIPLES-WILEYPLUS NEXTGEN
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- General accounting questionarrow_forwardKindly help me with accounting questionsarrow_forwardPart A Maharaj Garage & Car Supplies sells a variety of automobile cleaning gadgets including a variety of hand vacuums. The business began the first quarter (January to March) of 2024 with 20 (Mash up Dirt) deep clean, cordless vacuums at a total cost of $126,800. During the quarter, the business completed the following transactions relating to the "Mash up Dirt" brand. January 8 January 31 February 4 February 10 February 28 March 4 March 10 105 vacuums were purchased at a cost of $6,022 each. In addition, the business paid a freight charge of $518 cash on each vacuum to have the inventory shipped from the point of purchase to their warehouse. The sales for January were 85 vacuums which yielded total sales revenue of $768,400. (25 of these units were sold on account to Mandys Cleaning Supplies, a longstanding customer) A new batch of 65 vacuums was purchased at a total cost of $449,800 8 of the vacuums purchased on February 4 were returned to the supplier, as they were either not of…arrow_forward
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