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Joorisity Ltd. provided the following information for the month of April: Direct costs of production $10,500. Indirect costs of production $11,500 Raw materials beginning inventory
Joorisity Ltd. provided the following information for the month of April: Direct costs of production $10,500. Indirect costs of production $11,500 Raw materials beginning inventory $1500 Materials purchased $7600. Selling and administrative costs $11,500 Finished Goods beginning inventory $1100 Work in process ending inventory $ 1120 Raw materials ending inventory $1900 Work in process beginning inventory $960. Finished goods ending inventory $1350 a) Complete the chart below - When applicable, fill in the formula for each question. To complete the "Source" column, indicate which inventory account you would look at to answer this question. Source $ Question 1 What was the cost of direct materials used in production in April? 2 What was the direct labour cost in April? What was the manufacturing overhead cost in April? What was the prime cost in April? What was the conversion cost in April? What are product costs added for the month of April? What was the total product cost in April? What was finished goods added for the month of April? What was the cost of goods manufactured in April? 10 What was the total period cost in April? 11 What was the cost of goods sold in April? 12 DIf the sales revenue was $33,350 in April, what was the company's 4 5 6 7 8 net income before taxes? 13 k) What is the company's gross profit, if sales revenues are $33,350
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