Determine the missing amounts in each of the divisions shown above. SalesInventories at 1 July 2021Raw materialsWork in processFinished goodsInventories at 30 June 2022Raw materialsWork in processFinished goodsDirect material usedPurchases of raw materialsDirect labourActual manufacturing overheadSelling and administrative expensesTotal manufacturing costsCost of goods manufacturedCost of goods available for saleCost of goods soldGross profitNet profitDrone DivisionS$600,00018,750??37,5006.25031,250??156,250315,000?537,500550,000575,000??(2,500)Fertiliser DivisionS175,000250,000400,000475,000575,0002,238,750?3,850,0003,875,0003,963,750661,250?The company uses normal costing and manufacturing overhead is applied at the rate of 200%of direct labour cost.Over or under-applied manufacturing overhead is closed on an annual basis to the cost of goodssold and this has been included in the above data.

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Description: Determine the missing amounts in each of the divisions shown above. SalesInventories at 1 July 2021Raw materialsWork in processFinished goodsInventories at 30 June 2022Raw materialsWork in processFinished goodsDirect material usedPurchases of raw mat

Cost of goods Manufactured The entire manufacturing expenses for goods that are completed during a…

Answered: Determine the missing amounts in each…

Business

Accounting

Determine the missing amounts in each of the divisions shown above.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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