QUESTION 1 MANAGERIAL ACCOUNTING

Peters Manufacturing Company has the following data at June 30, 2019:

Raw materials inventory, June 1 $ 13,800 Work in process inventory, June 1 18,100 Finished goods inventory, June 1 43,500 Total manufacturing costs 430,000 Sales 580,000 Work in process inventory, June 30 30,400 Finished goods inventory, June 30 55,200 Raw materials inventory, June 30 18,000

(a) Prepare an income statement through gross profit for the month of June. (b) Indicate the balance sheet presentation of the June 30 inventories.

QUESTION 2 ACTIVITY BASED COSTING Compute activity-based costing rates from the following budgeted data for Upton Golf Co.:

Designing $2.550.000 75.000 designer hours Machining 525.000 21.000 machine hours Packing 620.000 31.000 labor hours Jayson Woods, P80 is an architectural rm that uses activity-based costing. The three activity cost pools used by Jayson Woods are: Salaries and Wages, Travel Expense. and Plan Reproduction Expense. The rm has provided the following information concerning activity and costs: Salaries and wages $430000 Travel expense 100.000 Plan reproduction expense 120.000 Total 650i000 Activity Cost Pools Project Business Assignment Development Other Salaries and wages 60% 30% 10% Travel expense 40% 40% 20% Plan reproduction expense 35% 40% 25%