J & G Electronics design and manufacturer specialized switches for the telecommunications industry. The accounting records of the business reflect the following data at December 31, 2018: Inventory 1/1/2018 31/12/2018 Raw Materials $260,000 $230,000 Work In Progress $332,300 $218,800 Finished Goods $1,075,200 $615,000 Other information: Sales Revenue Factory supplies Direct Factory Labor Special Design Cost Raw Materials Purchased Plant janitorial service Depreciation: Plant & Equipment Total Utilities Plant supervisor's salary Property Taxes ? R & D for Graphic Designs Total Insurance 3 Delivery truck driver's wages Depreciation: Delivery truck Administrative Wages & Salaries Advertising Expenses $5,765,000 45,000 735,000 15,000 540,000 52,000 165,000 550,000 480,000 300,000 70,500 160,000 125,000 52,000 850,150 1% of Sales Revenue "Of the total utilities, 70% relates to manufacturing and 30% relates to general and administrative costs. - The property taxes should be shared: 60% manufacturing & 40% general & administrative costs Of the total insurance, 75% relates to plant & equipment and 25% relates to administrative costs Required: a) Calculate the raw material used by J & G Electronics. (2 marks) b) What is the total manufacturing overhead cost incurred by J & G Electronics during the period? (3 marks) c) Determine the prime cost & conversion cost of the product manufactured. (3 marks) d) Calculate the cost of goods manufactured for the year by J & G Electronics (4 marks) e) Prepare an income statement for the year ended December 31, 2018, clearly showing the calculation of Cost of Goods Sold. List the non-production overheads in order of size starting with the largest. (6 marks) f) If J & G Electronics manufactured 1,500 switches for the year, what is the factory cost per switch? (2 marks) J & G Electronics design and manufacturer specialized switches for the telecommunications industry. The accounting records of the business reflect the following data at December 31, 2018: Inventory 1/1/2018 31/12/2018 Raw Materials $260,000 $230,000 Work In Progress $332,300 $218.800 Finished Goods $1,075,200 $615,000 Other information: Sales Revenue $5,765,000 Factory supplies 45,000 Direct Factory Labor 735,000 Special Design Cost 15,000 Raw Materials Purchased 540,000 Plant janitorial service 52,000 Depreciation: Plant & Equipment 165,000 Total Utilities 550,000 Plant supervisor's salary 480,000 Property Taxes ? 300,000 R & D for Graphic Designs 70,500 Total Insurance 160.000 Delivery truck driver's wages 125,000 Depreciation: Delivery truck 52,000 Administrative Wages & Salaries 850,150 Advertising Expenses 1% of Sales Revenue of the total utilities, 70% relates to manufacturing and 30% relates to general and administrative costs. ? The property taxes should be shared: 60% manufacturing & 40% general & administrative costs Of the total insurance, 75% relates to plant & equipment and 25% relates to administrative costs Required: a) Calculate the raw material used by J & G Electronics. (2 marks) b) What is the total manufacturing overhead cost incurred by J & G Electronics during the period? (3 marks) (3 marks) c) Determine the prime cost & conversion cost of the product manufactured. (4 marks) d) Calculate the cost of goods manufactured for the year by J & G Electronics e) Prepare an income statement for the year ended December 31, 2018, clearly showing the calculation of Cost of Goods Sold. List the non-production overheads in order of size starting (6 marks) with the largest 1) If J & G Electronics manufactured 1,500 switches for the year, what is the factory cost per (2 marks) switch? J & G Electronics design and manufacturer specialized switches for the telecommunications industry. The accounting records of the business reflect the following data at December 31, 2018: Inventory 1/1/2018 31/12/2018 Raw Materials $260,000 $230,000 Work In Progress $332,300 $218,800 Finished Goods $1,075,200 $615,000 Other information: Sales Revenue Factory supplies Direct Factory Labor Special Design Cost Raw Materials Purchased Plant janitorial service Depreciation: Plant & Equipment Total Utilities Plant supervisor's salary Property Taxes ? R & D for Graphic Designs Total Insurance 3 Delivery truck driver's wages Depreciation: Delivery truck Administrative Wages & Salaries Advertising Expenses $5,765,000 45,000 735,000 15,000 540,000 52,000 165,000 550,000 480,000 300,000 70,500 160,000 125,000 52,000 850,150 1% of Sales Revenue "Of the total utilities, 70% relates to manufacturing and 30% relates to general and administrative costs. - The property taxes should be shared: 60% manufacturing & 40% general & administrative costs Of the total insurance, 75% relates to plant & equipment and 25% relates to administrative costs Required: a) Calculate the raw material used by J & G Electronics. (2 marks) b) What is the total manufacturing overhead cost incurred by J & G Electronics during the period? (3 marks) c) Determine the prime cost & conversion cost of the product manufactured. (3 marks) d) Calculate the cost of goods manufactured for the year by J & G Electronics (4 marks) e) Prepare an income statement for the year ended December 31, 2018, clearly showing the calculation of Cost of Goods Sold. List the non-production overheads in order of size starting with the largest. (6 marks) f) If J & G Electronics manufactured 1,500 switches for the year, what is the factory cost per switch? (2 marks) J & G Electronics design and manufacturer specialized switches for the telecommunications industry. The accounting records of the business reflect the following data at December 31, 2018: Inventory 1/1/2018 31/12/2018 Raw Materials $260,000 $230,000 Work In Progress $332,300 $218.800 Finished Goods $1,075,200 $615,000 Other information: Sales Revenue $5,765,000 Factory supplies 45,000 Direct Factory Labor 735,000 Special Design Cost 15,000 Raw Materials Purchased 540,000 Plant janitorial service 52,000 Depreciation: Plant & Equipment 165,000 Total Utilities 550,000 Plant supervisor's salary 480,000 Property Taxes ? 300,000 R & D for Graphic Designs 70,500 Total Insurance 160.000 Delivery truck driver's wages 125,000 Depreciation: Delivery truck 52,000 Administrative Wages & Salaries 850,150 Advertising Expenses 1% of Sales Revenue of the total utilities, 70% relates to manufacturing and 30% relates to general and administrative costs. ? The property taxes should be shared: 60% manufacturing & 40% general & administrative costs Of the total insurance, 75% relates to plant & equipment and 25% relates to administrative costs Required: a) Calculate the raw material used by J & G Electronics. (2 marks) b) What is the total manufacturing overhead cost incurred by J & G Electronics during the period? (3 marks) (3 marks) c) Determine the prime cost & conversion cost of the product manufactured. (4 marks) d) Calculate the cost of goods manufactured for the year by J & G Electronics e) Prepare an income statement for the year ended December 31, 2018, clearly showing the calculation of Cost of Goods Sold. List the non-production overheads in order of size starting (6 marks) with the largest 1) If J & G Electronics manufactured 1,500 switches for the year, what is the factory cost per (2 marks) switch