The following data relates to the operations of Rommel Company for a given year, 20x2. Jan 1,
Question:
The following data relates to the operations of Rommel Company for a given year, 20x2. Jan 1, 20x2 Dec 31,20x2
Inventories:
Finished goods Br.43,000 Br.52,000
Raw materials 12,000 10,000
Work in process 16,000 14,000
Additional data:
Direct labor 85,000
Freight in 4,000
Administrative expense 30,000
Indirect labor 18,000
Indirect materials and supplies 3,000
Insurance expense factory 1,500
Depreciation- factory plans 7,500
Raw materials purchases 170,000
Payroll taxes expense-factory 4,000
Utilities factory 7,500
Property taxes-factory 3,000
Property taxes-general 2,500
Raw materials purchase returns and allowance 4,000
Repair and maintenance-factory 4,000
Sales 500,000
Selling expense 85,000
Sales return and allowance 2,500
Instruction: Determine the cost of goods manufactured and cost goods sold for Rommel Company for the year ended December 31, 20x2.
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina