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Problem #1: Cost flows through a manufacturing organization 1-Jan-11 31-Dec-11 RM inventory $32 $8 WIP inventory $18 $3 FG inventory $47 $11 Plant utilities $9
| Problem #1: Cost flows through a manufacturing organization | |||||||
| 1-Jan-11 | 31-Dec-11 | ||||||
| RM inventory | $32 | $8 | |||||
| WIP inventory | $18 | $3 | |||||
| FG inventory | $47 | $11 | |||||
| Plant utilities | $9 | ||||||
| Indirect labor | $27 | ||||||
| Depreciation (PP&E) | $6 | ||||||
| Revenues | $355 | ||||||
| Miscellaneous manufacturing OH | $15 | ||||||
| Marketing, distribution & customer service costs | $94 | ||||||
| RM purchased | $84 | ||||||
| DL incurred | $42 | ||||||
| Plant supplies used | $4 | ||||||
| Property taxes (PP&E) | $2 | ||||||
| 1. Calculate the RM used in production (2 points) | RM used | $108 | |||||
| beg RM inventory | $32 | ||||||
| purchases of RM | $84 | ||||||
| RM used (plug) | $108 | ||||||
| end RM inventory | $8 | ||||||
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Financial Accounting A Global Perspective
Authors: Robert Libby, Patricia Libby, Daniel G Short
5th Edition
0071107746, 978-0071107747
