Question
The following information was obtained from the records of Milena Company fortheyearendedDecember2013: RM Advertising Expense 215,000 InsuranceonFactoryEquipment 8,000 DepreciationofSalesEquipment 40,000 FactoryRental 90,000 FactoryUtilities 52,000 SalesCommissions
- The following information was obtained from the records of Milena Company
fortheyearendedDecember2013:
RM | |
Advertising Expense | 215,000 |
InsuranceonFactoryEquipment | 8,000 |
DepreciationofSalesEquipment | 40,000 |
FactoryRental | 90,000 |
FactoryUtilities | 52,000 |
SalesCommissions | 35,000 |
FactoryCleaningSupplies | 6,000 |
DepreciationofFactoryEquipment | 110,000 |
MarketingandAdministrationSalaries | 85,000 |
FactoryMaintenance | 74,000 |
DirectLabor | ? |
PurchaseofRaw Materials | 260,000 |
The balance of inventory at the beginning and ended of year 2013 are asfollows:
1January | 31December | |
RawMaterials | RM50,000 | RM40,000 |
WorkinProcess | RM ? | RM33,000 |
FinishedGoods | RM30,000 | RM ? |
Totalcostofgoodsmanufacturedfortheyear2013isRM675,000.CostofgoodsavailableforsaleisRM720,000whilecostofgoodssoldisRM635,000.
- How to calculate the work in process opening amount company fortheyearended2013.
Step by Step Solution
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Step: 1
Given Total cost of goods manufactured for the year 2013 RM675000 Cost ...
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Financial and Managerial Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
11th Edition
9780538480901, 9781111525774, 538480890, 538480904, 1111525773, 978-0538480895
