Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The company paid for the development of a new website to sell its product at $150,000 Raw materials costing $222,00 were purchased on account.

The company paid for the development of a new website to sell its product at

$150,000

\ Raw materials costing

$222,00

were purchased on account.\ During the month

$130,000

of materials were requisitioned for use in production, of which

$120,000

worth of fabric was requisitioned for use in the production of the masks and directly traced to particular jobs in the factory. The remainder was indirect materials including clean fluid for the machines and hand sanitizer for employees.\ Employee costs were incurred:\ mask makers (direct factory labor) - $77,000 at an average of

$22

per hour (for 3,500 direct: labor hours).\ supervisors, plant security, plant maintenance and plant managers (indirect factory labor),

$15,000

\ SGA - selling, general and administrative salaries,

$50,000

\ Utility costs and property taxes of

$30,000

were incurred (accrued) for the factory and

$44,000

in costs were incurred for the headquarters building.\ Depreciation for the period was

$100000

f which

image text in transcribed
- The company paid for the development of a new website to sell its product at $150,000 - Raw materials costing $222,00 were purchased on account. - During the month $130,000 of materials were requisitioned for use in production, of which $120,000 worth of fabric was requisitioned for use in the production of the masks and directly traced to particular jobs in the factory. The remainder was indirect materials including clean fluid for the machines and hand sanitizer for employees. - Employee costs were incurred: - mask makers (direct factory labor) - $77,000 at an average of $22 per hour (for 3,500 direct: labor hours). - supervisors, plant security, plant maintenance and plant managers (indirect factory labor), $15,000 - SGA - selling, general and administrative salaries, $50,000 - Utility costs and property taxes of $30,000 were incurred (accrued) for the factory and $44,000 in costs were incurred for the headquarters building

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_2

Step: 3

blur-text-image_3

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

Auditing Information And Cyber Security Governance

Authors: Robert E Davis

1st Edition

1000416089, 9781000416084

More Books

Students also viewed these Accounting questions

Question

Explain key aspects of e-learning

Answered: 1 week ago

Question

To what extent can OL ideas help this organization?

Answered: 1 week ago