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PepsiCo's snacks division provided the following data for April 2023: Item Amount (in $) Opening Inventory (Raw Materials) 70,000 Purchases 520,000 Closing Inventory (Raw Materials)
PepsiCo's snacks division provided the following data for April 2023:
Item | Amount (in $) |
Opening Inventory (Raw Materials) | 70,000 |
Purchases | 520,000 |
Closing Inventory (Raw Materials) | 80,000 |
Direct Labor | 300,000 |
Manufacturing Overhead | 150,000 |
Opening Inventory (Finished Goods) | 120,000 |
Closing Inventory (Finished Goods) | 90,000 |
Sales | 2,700,000 |
Selling and Administrative Exp. | 450,000 |
Requirements:
- Calculate the Direct Materials Used.
- Determine the Total Manufacturing Costs.
- Compute the Cost of Goods Manufactured.
- Calculate the Cost of Goods Sold.
- Prepare the Gross Profit Statement for April 2023.
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