ACC-320 Milu-. "F alLIIdOCA PART-II Mid-term Exam 1) Messinger Manufacturing Company had the following account balances for the quarter ending March 31, unless otherwise noted: (15 Marks) Work-in-process Inventory (January 1) Work-in-process inventory (March 31) Finished goods inventory (January 1) Finished goods inventory (March 31) Direct materials used Indirect materials used Direct manufacturing labour Indirect manufacturing labour Property taxes on manufacturing plant building Salespersons' company vehicle costs Amortization of manufacturing equipment Amortization of office equipment Miscellaneous plant overhead Plant utilities General office expenses Marketing distribution costs $140,400 171,000 540,000 510,000 378,000 84,000 480,000 186,000 28,800 12,000 264,000 123,600 135.000 92,400 305,400 30,000 Required: a. Prepare a cost of goods manufactured schedule for the quarter. b. Prepare a cost of goods sold schedule for the quarter. 2) Berhannan's Cellular sells phones for $100. The unit variable cost per phone is $50 plus a selling commission of 10%. Fixed manufacturing costs total $1,250 per month, while fixed selling and administrativo costs total $2,500. (10 Marks)

ACC-320 Milu-. "F alLIIdOCA PART-II Mid-term Exam 1) Messinger Manufacturing Company had the following account balances for the quarter ending March 31, unless otherwise noted: (15 Marks) Work-in-process Inventory (January 1) Work-in-process inventory (March 31) Finished goods inventory (January 1) Finished goods inventory (March 31) Direct materials used Indirect materials used Direct manufacturing labour Indirect manufacturing labour Property taxes on manufacturing plant building Salespersons' company vehicle costs Amortization of manufacturing equipment Amortization of office equipment Miscellaneous plant overhead Plant utilities General office expenses Marketing distribution costs $140,400 171,000 540,000 510,000 378,000 84,000 480,000 186,000 28,800 12,000 264,000 123,600 135.000 92,400 305,400 30,000 Required: a. Prepare a cost of goods manufactured schedule for the quarter. b. Prepare a cost of goods sold schedule for the quarter. 2) Berhannan's Cellular sells phones for $100. The unit variable cost per phone is $50 plus a selling commission of 10%. Fixed manufacturing costs total $1,250 per month, while fixed selling and administrativo costs total $2,500. (10 Marks)

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 27E: Selected information concerning the operations of a company for the year ended December 31 is as...

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