Test 1 ACC 320 Fall 2021 QUESTION 1 The following information pertains to the BUZZ company for the year ending Dec 31, 2020 $ Sales 440,500 Sales Return & Allowance 15,600 Unearned Revenue 26,000 Purchases of raw materials 80,000 Indirect Labour 9,500 Indirect Materials 6.800 Depreciation of equipment [shop] 15,000 Depreciation of machines [factory] 17.500 Depreciation of admin buildings 12,800 Depreciation of shop equipment 14,000 Marketing expense Advertising expense Accrued expense Total utilities [factory] 10,000 12,500 8,700 7.700 Direct labour hours Hourly rate of DL 4000 hrs 11.50 RM inventory at the end of period 10,200 Beginning WIP 5,000 Sales discount 4,800 RM inventory at start 21,000 WIP at hand 7.800 Utilities [shop] 4,500 Rental revenue [shop] 75,000 Uneamed Revenue 40.000 Finished goods 1/1/20 26,000 Finished goods 12/31/20 11,000 Supplies expense [40% for factory] 14.000 Supplies expense [office] 8,000 Supplies 18,000 Interest Expense Interest bearing debt 8% 200,000 Tax Rate 12%