Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help me . Please urgent The Royal phone manufaturer LTD is one of the famous Manufacturing company for cellular products, in their managerial accounting

Please help me . Please urgent

image text in transcribed

image text in transcribed

The Royal phone manufaturer LTD is one of the famous Manufacturing company for cellular products, in their managerial accounting system they follow all the required steps to make sure they are allocating the costs correctly to each cost driver as been proposed by their managerial accounting department. Following data refer to this company for the year ended 31 Dec 2020: Work in process inventory, 1 January Revenues Supplies Work in process inventory, 31 December Miscellaneous Finished goods inventory, 1 January Depreciation on factory equipment Raw material inventory, 1 January Finished goods inventory, 31 December Purchases of raw material Heat, light, and power Indirect labor cost incurred Depreciation on factory building Direct labor cost incurred Raw material inventory, 31 December 6,000.00 210,000.00 2,000.00 7,000.00 1,000.00 22,000.00 3,000.00 11,000.00 18,000.00 73,000.00 5,000.00 7,000.00 2,000.00 9,000.00 8,000.00 Marketing, distribution, and customer-service costs 70,000.00 Required 1- Prepare Royal phone manufaturer LTD schedule of cost of goods manufactured for the year ended 31 Dec 2020. 2- Prepare the company's income statement for the year ended 31 Dec 2020

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

A Guide To Risk Based Internal Audit System In Banks

Authors: CA Shiva Chaudhari

1st Edition

1947498649, 978-1947498648

More Books

Students also viewed these Accounting questions