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| Assembly-line workers' wages | $72,100 |
| Caps for milk bottles | 3600 |
| Reconfiguring the assembly line | 125,700 |
| Customer support hotline | 10,400 |
| Delivery expenses | 20,300 |
| 75,000 | |
| Plastic milk bottles | 52,300 |
| Salaries of salespeople | 63,200 |
| Salaries of research scientists | 70,300 |
| Customer toll-free order line | 6800 |
Question 21 options:
|
|
$268,100
|
|
|
$188,900
|
|
|
$197,800
|
|
|
$125,700
|
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- One of the tennis rackets that Ace Sporting Goods manufactures is a titanium model (Slam) that sells for 149. The cost of each Slam consists of: Job 100 produced 100 Slams, of which six were spoiled and classified as seconds. Seconds are sold to discount stores for 50 each. Required: 1. Under the assumption that the loss from spoilage will be distributed to all jobs produced during the current period, use general journal entries to (a) record the costs of production, (b) put spoiled goods into inventory, and (c) record the cash sale of spoiled units. 2. Under the assumption that the loss due to spoilage will be charged to Job 100, use general journal entries to (a) record the costs of production, (b) put spoiled goods into inventory, and (c) record the cash sale of spoiled units.Kaune Food Products Company manufactures canned mixed nuts with an average manufacturing cost of 52 per case (a case contains 24 cans of nuts). Kaune sold 150,000 cases last year to the following three classes of customer: The supermarkets require special labeling on each can costing 0.04 per can. They order through electronic data interchange (EDI), which costs Kaune about 61,000 annually in operating expenses and depreciation. Kaune delivers the nuts to the stores and stocks them on the shelves. This distribution costs 45,000 per year. The small grocers order in smaller lots that require special picking and packing in the factory; the special handling adds 25 to the cost of each case sold. Sales commissions to the independent jobbers who sell Kaune products to the grocers average 8 percent of sales. Bad debts expense amounts to 9 percent of sales. Convenience stores also require special handling that costs 30 per case. In addition, Kaune is required to co-pay advertising costs with the convenience stores at a cost of 15,000 per year. Frequent stops are made to each convenience store by Kaune delivery trucks at a cost of 30,000 per year. Required: 1. Calculate the total cost per case for each of the three customer classes. (Round unit costs to four significant digits.) 2. Using the costs from Requirement 1, calculate the profit per case per customer class. Does the cost analysis support the charging of different prices? Why or why not? 3. What if Kaune charged the average price per case to all customer classes? How would that affect the profit percentages?Lucky Cow Dairy provided the following expense information for May: Assembly-line workers' wages $72,800 Caps for milk bottles 3800 Reconfiguring the assembly line 125,100 Customer support hotline 10,500 Delivery expenses 20,500 Depreciation on factory equipment 75,800 Plastic milk bottles 52,300 Salaries of salespeople 63,300 Salaries of research scientists 70,400 Customer toll-free order line 6900 What is the total cost for the distribution category of the value chain? Question 19 options: $20,500 $218,400 $24,300 $153,500
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- James Limited manufactures bicycle parts but also purchases some parts for resale. The following information is available for year ended 2021 December 31: Inventory at 2021 January 01 Raw materials $63 000 Work-in-progress 17 000 Finished goods 16 480 Sales of finished goods $922 500 Purchases of finished goods 61 700 Purchases of raw materials 358 100 Carriage of finished goods 2 400 Carriage of raw materials 1 400 Machine operators’ wages 153 500 Factory supervisor’s salary 48 100 Administrative and sales wages 62 100 Factory machinery at cost 228 000 Office equipment at cost 180 000 Provision for depreciation of factory machinery 45 600 Provision for depreciation of office equipment 27 000 Rent 76 500 Light and heat 39 800Additional information: Inventory at 2021 December 31: Raw materials 62 800 Work-in-progress 15 100 Finished goods 36 500 i. At 2021 December 31, rent of $3 500 was owing and prepaid light and heat amounted to $1 700. ii. Rent, light and heat are apportioned as…Gourmet Bones manufactures its own brand of pet chew bones. At the end of December 2018, the accounting recods showed the following: Beginning Ending Direct Materials $13,500 $7,500 Work in Process Inventory 0 $3,500 Finished Goods Inventory 0 $5200 Other Information: Direct materials purchases $ 36,000 Plant janitorial servieces 700 Sales salaries 6,000 Delivery costs 1,300 Net sales revenue 107,000 Utilites for plant 1,300 Rent on plant 17,000 Customer service hotline costs 1,200 Direct labor 23,000 Requirements 1. Prepare a schedule of cost of goods manufactured for Gourmet Bones for the year ended December 31,2018. 2.…Ligo Co. a sardines canning company had the following purchases as inputs for its manufacturing operations during the month: Tin cans, inclusive of VAT P 80,000 Tomatoes 150,000 Sardines 200,000 Labels, inclusive of VAT 20,000 Total P 450,000 What is the presumptive input VAT allowable to Ligo? What is the creditable input VAT of Ligo for the month?
- Clyde’s Pets manufactures chewing bones for puppies. At the end of December 2008,his accounting records showed the following:Inventories Beginning EndingMaterials $13.500 $9,000Work in process $0 $1250Finished goods $0 $5,700Other information: Direct material purchases $31,000 Utilities for plant $4,500Plant janitorial service $1250 Rent on plant $9,000Sales salaries expense $5000 Customer service hotline expense $1000Delivery expense $1500 Direct labour $18,000Sales revenue $105,000Requirements:i) Prepare a schedule of cost of goods manufactured for the year…Chewy Bones manufactures its own brand of pet chew bones. At the end of December 2018, the accounting records showed the following: Balances: Beginning Ending Direct Materials $ 13,400 $ 10,500 Work-in-Process Inventory 0 1,500 Finished Goods Inventory 0 5,400 Other information: Direct materials purchases $ 39,000 Plant janitorial services 900 Sales salaries 5,100 Delivery costs 1,700 Net sales revenue 115,000 Utilities for plant 1,200 Rent on plant 9,000 Customer service hotline costs 1,600 Direct labor 16,000 Requirements 1.Prepare a schedule of cost of goods manufactured for Chewy Bones for the year ended December 31, 2018. 2.Prepare an income statement for Chewy Bones for the year ended December 31, 2018. 3.How does the format of the income statement for…Listed below are various costs related to a candy manufacturing company. Determine the amount of product and period costs. Chocolate used in candy bars 697,500 Packaging department employee wages 34,500 Insurance premiums on plant equipment 21,000 Fuel costs for traveling sales representatives 59,700 Foil wrappers for candy bar 25,800 Property taxes on corporate office 84,000 Salary of quality inspector 126,000 Soap and hand towels in factory restrooms 3,600 Depreciation on manufacturing facility 25,050 Salary of legal counsel 274,500 Plant security personnel 187,500 Utilities for storage warehouse 21,000 Production line supervisor salary 148.050 Sales commissions 82,350 Advertising 25,500
