Question 2

Mon Inc. a manufacturer of jewellery reported the following last month

Assembly line, jewellery manufacturing salaries 18,000

Finished goods inventory, beginning17,000

Finished goods inventory, ending 20,000

General & administrative expenses 22,000

Indirect materials requisitioned to factory 17,500

Production Supervisor, Salary 21,000

Purchases of raw materials 28,000

Raw materials inventory, ending 19,000

Raw materials inventory, beginning 18,000

Rent on production factory 19,000

Rent, retail store 18,000

Sales 200,000

Utilities on manufacturing factory 17,500

Utilities, retail store 17,000

Wages, retail staff 20,000

WIP inventory, beginning 18,500

WIP inventory, ending 21,500

Assume the Manufacturing Overhead is perfectly applied.Answer the following questions. NO COMMAs, NO $

What is the cost of raw materials used in production?

What is Direct Labour?

What is Manufacturing Overhead?

What is the Total Manufacturing Costs?

What is the Cost of Goods Manufactured?

What is the Cost of Goods Sold?

What is Net Income?