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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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