ASK ON ATTACH FILE BUAC2302: Managerial Accounting

Year 2017 Semester 1

Read the following activities of ABC Juice Limited in 2017.

Required:

Calculate unit cost

Record all the transactions in the journal

Year

Month

Day

Activity

2016

June

1

ABC company purchases raw materials from XYZ company for $5000 on

account

2

The company employs 300 hours labor for the following rate

Category 1 for 100 hours at the rate of $20 per hour

Category 2 for 100 hours at the rate of $10 per hour

Category 3 for 100 hours at the rate of $5 per hour

5

The company uses $2000 raw materials into production

6

The company purchases raw materials of $3000

10

$2500 worth of raw materials are used in the production

12

The company produced finished goods of $2500

15

The predetermined manufacturing overhead rate is $3 per labor hour

18

The company sells 100 unit of products at selling price of $30 on account

July

25

The company receives the amount for the product it sold for on June 18

30

The company sells 200 units of products at $30 per unit

The total production of the company is 500 units

BUAC2302: Managerial Accounting Year 2017 Semester 1 Read the following activities of ABC Juice Limited in 2017. Require Calculate unit cost d: Record all the transactions in the journal Yea r Mon th 201 6 June D a y 1 2 July 5 6 1 0 1 2 1 5 1 8 2 5 3 0 Activity ABC company purchases raw materials from XYZ company for $5000 on account The company employs 300 hours labor for the following rate Category 1 for 100 hours at the rate of $20 per hour Category 2 for 100 hours at the rate of $10 per hour Category 3 for 100 hours at the rate of $5 per hour The company uses $2000 raw materials into production The company purchases raw materials of $3000 $2500 worth of raw materials are used in the production The company produced finished goods of $2500 The predetermined manufacturing overhead rate is $3 per labor hour The company sells 100 unit of products at selling price of $30 on account The company receives the amount for the product it sold for on June 18 The company sells 200 units of products at $30 per unit The total production of the company is 500 units Good luck