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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:

  1. Calculate the Direct Materials Used.
  2. Determine the Total Manufacturing Costs.
  3. Compute the Cost of Goods Manufactured.
  4. Calculate the Cost of Goods Sold.
  5. Prepare the Gross Profit Statement for April 2023.

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