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Bahadur Co. manufactures plumbing supplies. The following data were collected from the accounting records for the past year: 1. Beginning direct materials inventory $45,000 2.
Bahadur Co. manufactures plumbing supplies. The following data were collected from the accounting records for the past year:
1. 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. Presidents 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. 12 marks
Compute the total prime costs for this year. 2 marks
Compute the total conversion costs for this year. 2 marks
Prepare a statement of cost of goods sold for this year. 4 marks
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