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Mon Inc. a manufacturer of jewellery reported the following last month Assembly line, jewellery manufacturing salaries 19,500 Finished goods inventory, beginning 18,500 Finished goods inventory,

Mon Inc. a manufacturer of jewellery reported the following last month
Assembly line, jewellery manufacturing salaries 19,500
Finished goods inventory, beginning 18,500
Finished goods inventory, ending 21,050
General & administrative expenses 20,050
Indirect materials requisitioned to factory 17,150
Production Supervisor, Salary 18,000
Purchases of raw materials 28,600
Raw materials inventory, ending 19,950
Raw materials inventory, beginning 17,150
Rent on production factory 17,000
Rent, retail store 20,000
Sales 220,000
Utilities on manufacturing factory 17,000
Utilities, retail store 16,850
Wages, retail staff 18,500
WIP inventory, beginning 19,500
WIP inventory, ending 22,500

Assume the Manufacturing Overhead is perfectly applied. Answer the following questions. NO COMMAs, NO $

What is the cost of raw materials used in production? [1]

What is Direct Labour? [2]

What is Manufacturing Overhead? [3]

What is the Total Manufacturing Costs? [4]

What is the Cost of Goods Manufactured? [5]

What is the Cost of Goods Sold? [6]

What is Net Income? [7]

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