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?
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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
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
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?
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- please assist and show all workings Personal Protective Gears & More (PPGM) design and manufacture masks for students. Afterproduction, the masks are placed into individual cases, before being transferred into Finished Goods. Theaccounting records of the business reflect the following data at June 30, 2021, for the manufacturing ofmasks for Mount Marlie High School. Inventory 1/7/2020 30/6/2021Raw Materials $230,000 $260,000Factory Supplies $35,000 $24,000Work in Progress $348,300 $203,300Finished Goods $632,900 $485,000 other information Sales Revenue $5,731,000Factory Supplies Purchased 64,000Direct Factory Labor 792,000Raw Materials Purchased 560,000Plant janitorial service…Regional Safety Supplies (RSS) designs and manufactures masks for students. After production, themasks are placed into individual cases, before being transferred into Finished Goods. The accountingrecords of the business reflect the following data at June 30, 2021, for the manufacturing of masks forSugar Hill High School.Inventory 1/7/2020 30/6/2021Raw Materials $230,000 $260,000Factory Supplies $35,000 $24,000Work in Progress $348,300 $203,300Finished Goods $632,900 $485,000Other information:Sales Revenue $5,731,000Factory Supplies Purchased 64,000Direct Factory Labor 792,000Raw Materials Purchased 560,000Plant janitorial service 37,000Depreciation: Plant & Equipment 186,000Total Utilities 1 481,250Production Supervisor’s Salary 450,000Design Costs (School Logo) 26,000Packaging Cases Cost 42,000Total Insurance 2 168,000Delivery Vehicle Drivers’ Wages 181,500Depreciation: Delivery Vehicle 53,290Property Taxes 3 240,000Administrative Wages & Salaries 801,250Advertising &…Regional Safety Supplies (RSS) designs and manufactures masks for students. After production, themasks are placed into individual cases, before being transferred into Finished Goods. The accountingrecords of the business reflect the following data at June 30, 2021, for the manufacturing of masks forSugar Hill High School.Inventory 1/7/2020 30/6/2021Raw Materials $230,000 $260,000Factory Supplies $35,000 $24,000Work in Progress $348,300 $203,300Finished Goods $632,900 $485,000Other information:Sales Revenue $5,731,000Factory Supplies Purchased 64,000Direct Factory Labor 792,000Raw Materials Purchased 560,000Plant janitorial service 37,000Depreciation: Plant & Equipment 186,000Total Utilities 1 481,250Production Supervisor’s Salary 450,000Design Costs (School Logo) 26,000Packaging Cases Cost 42,000Total Insurance 2 168,000Delivery Vehicle Drivers’ Wages 181,500Depreciation: Delivery Vehicle 53,290Property Taxes 3 240,000Administrative Wages & Salaries 801,250Advertising &…
- Regional Safety Supplies (RSS) designs and manufactures masks for students. After production, themasks are placed into individual cases, before being transferred into Finished Goods. The accountingrecords of the business reflect the following data at June 30, 2021, for the manufacturing of masks forSugar Hill High School. INVENTORY 1/7/2020 30/6/2021 Raw Materials $230,000 $260,000 Factory Supplies $35,000 $24,000 Work in Progress $348,300 $203,300 Finished Goods 632,900 485,000 Other information: Sales Revenue $5,731,000 Factory Supplies Purchase 64,000 Direct Factory Labour 792,000 Raw Materials Purchased 560,000 Plant janitorial Service 37,000 Depreciation: Plant & Equipment 186,000 Total Utilities 481,250 Production Supervisor's Salary 450,000 Design Costs (school Logo) 26,000 Packaging Cases Cost 42,000 Total Insurance 2 168,000 Delivery Vehicle Drivers' Wages 181,500 Depreciation: Delivery Vehicle 53,290 Property Taxes3 240,000…Crazy Sylum Logos (CSL) design and manufacture school uniform crests. After production, the crests are placed into individual plastic cases, before being transferred into Finished Goods. The accounting records of the business for the quarter to December 31, 2021, for the manufacturing of uniform crests for Sky High High School are given below. Inventory 1/10/2021 31/12/2021 Raw Materials $72,000 $65,000 Work in Progress $138,875 $129,125 Finished Goods $149,500 $141,700 Other Information: Sales Revenue $1,694,950 Factory Labour $239,700 Raw Materials Purchased $235,000 Office Cleaner's Wages $4,500 Factory Supplies Used $23,500 Depreciation: Factory Plant & Equiptment $32,000 Total Utilities (1) $118,750 Plant Supervisor's Salary $180,000 Design Costs (School Logo) $4,300 Packaging Material Cost $35,000 Total Insurance (2) $60,000 Delivery vehicle Driver's Wages $41,250 Depreciation: Delivery vehicle $7,250 Property Taxes…A. Determine the prime cost and conversion cost of the school crests produced B. Prepare an income statement for personal All School Logos and More for the quarter ended December 31, 2021. List the non manufacturing overheads in order of size starting with the largest.
- All School Logos & More (ASLM) design and manufacture school uniform crests. After production, the crests are placed into individual plastic cases, before being transferred into Finished Goods. The accounting records of the business for the quarter to December 31, 2021, for the manufacturing of uniform crests for Hill Point High School are given below. | Inventory Raw Materials Work in Progress $138,875 1/10/2021 31/12/2021 $72,000 $65,000 $129,125 $141,700 Finished Goods $149,500 Other information: Sales Revenue Factory Labour Raw Materials Purchased Office Cleaner's Wages Factory Supplies Used Depreciation: Factory Plant & Equipment Total Utilities ! Plant Supervisor's Salary Design Costs (School Logo) Packaging Material Cost Total Insurance 2 Delivery Vehicle Drivers’ Wages Depreciation: Delivery Vehicle Property Taxes 3 Administrative Wages & Salaries Sales Commission $1,694,950 239.700 235,000 4,500 23.500 32,000 118,750 180,000 4.300 35,000 60,000 41,250 7,250 105,000 123,750 2%…PROBLEMS Instructions: Supply the answer supported by computations in good form using your worksleet. 000 0A Problem 1-1. Bayo Dress Shop makes evening dresses. The following information has been gathered from the company records of 2019, the first year of company operations. Work in Process Inventory at the end of the year was P100,000. 008 Raw materials purchased on account, of which only P2,350,000 75% were paid during the year. 00 Raw materials issued to production, of which 25% is indirect materials 1,940,000 Accrued factory payroll (80% is direct labor) Depreciation of sewing and computer equipment Utilities paid Factory insurance expired Factory rent including P50,000 deposit usqmo MM 960,000o 1,350,000 80,000 320,000 17,500 no bro 000,01 to 1ey Bayo Dress Shop applies actual overhead to production. es[o 00 00aw bias i yunst no 000,0809 26w yosval 0e srut no 00, elsisirhttps://elearn.squ.edu.om/mod/quiz/attempt.php?attempt3D1764 EMIC) E-LEARNING SERVICES - SQU LIBRARIES SQU PORTAL ATTEND Time left 1:56:15 O c. Finished Goods to be understated by OMR 12,000 the year. O d. Cost of Goods Manufactured to be overstated by OMR 12,000 for the year. Work in Process to be understated by OMR 12,000 at year end. A Company uses job order costing and has chosen direct labor hours to allocate its manufacturing overhead. The company estimates that total direct labor hours to be operated next year are 300,000 hours. The estimated variable overhead is $10 per hour and the estimated fixed overhead costs are $500,000. The predetermined overhead rate is: O a. None of the answers given O b. S16.67 Oc. $11.67 O d. $7 O e. $1.67 OUS PAGE NEXT PAGE
- Final Exam (Fall 2020) Question 23 of 50 View Policies Current Attempt in Progress Oriole Co. manufactures baseball bats. The company's total overhead consists of assembly costs and inspection costs. Th data is available: Cost Pool Wood Aluminum Total Cost Assembly 500 machine hrs. 500 machine hrs. $48000 Inspections 450 inspections 150 inspections 73800 2100 labor hrs. 1900 labor hrs. Total overhead assigned to wood bats assuming a single overhead rate and using activity-based costing, respectively, are O $63945 and $79350. O $63945 and $57855. O $57855 and $79350. O $57855 and $42450. Save for Later Attempts: 0 of 1 used Submit Answe MacBook Air esc 888 F1 F2 F3 F4 F5 F6 F7 F8 2$ 2 4 6. 8. # 3Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2020, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $3,900 Manufacturing Overhead Applied $30,700 Work in Process Inventory $5,675 Manufacturing Overhead Incurred $32,000 Question: Post the entries to working process inventoryINSTRUCTION: Write your answers and solutions in a piece of paper. Submit your answers in Google Classroom viaattachments.LONG PROBLEMConsider the following data of the month for Abdul Production Company: Raw Materials, Beg. P 10,000 Finished Goods, Beg. P 20,000 Work-in-Process, Beg. P 15,000A. Purchased raw material on account P28,500.B. Put material into production: P15,000 of direct material and P3,000 of indirect material.C. Accrued payroll of P90,000, of which 40% was direct labor, 20% was indirect labor, 20% was selling expense, and the remainder wasadministrative expense. Then after, the total payroll was paid.D. Depreciation for the Machinery is P40,000. The Machinery is used by all departments. 50% is used by Production Department, 25% bySales Department, and the remaining is used for administrative purposes.E. Received utility bill for the month amounting to P10,000. 50% is for Production department, 20% is for Sales Department, and 30% foradministrative purposes.F. Paid…