Question
Bahadur Co. manufactures plumbing supplies. The following data were collected from the accounting records for the past year: Beginning direct materials inventory $45,000 2. Beginning
Bahadur Co. manufactures plumbing supplies. The following data were collected from the accounting records for the past year: Beginning direct materials inventory $45,000 2. Beginning work-in-process inventory $58,500 3. Beginning finished goods inventory $175,600 4. Direct materials purchased $756,000 5. President's salary $150,000 6. Head office salaries $650,000 7. Wages paid to direct labour $456,000 8. Wages paid to factory supervisors $234,000 9. Wages paid to indirect labour $23,450 10.Advertising and marketing expenses $356,000 11. Electricity used in plant $130,000 12.Overhead supplies used in plant $23,500 13.Wages paid to marketing manager $125,000 14. Fuel purchased for delivery trucks $35,600 15. Oil to heat factory $87,000 16. Depreciation on factory equipment $86,000 17. Property taxes for factory $32,000 18. Rent paid for head office equipment $75,000 19. Rent paid for factory equipment $34,000 20. Ending direct materials inventory $24,500 21. Ending work-in-process inventory $102,000 22. Ending finished goods inventory $164,300
Required: Prepare a schedule of costs of goods manufactured for this year. Compute the total prime costs for this year. Compute the total conversion costs for this year. Prepare a statement of cost of goods sold for this year.
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