Question 3 The following information for the period ending June 30, 2015, was taken from the books of Furnishing Homes, manufacturers of decorative tiles. Carriage in on raw materials Opening sock of raw materials Purchase of raw materials Purchases retums Closing stock of raw materials Production wages Direct factory wages Work in progress- July 1, 2014 Work in progress- June 30, 2015 Insurance Salaries 12 000 40 000 160 000 62 000 30 000 47 000 6 000 13 000 21 000 Overhead: 8 000 28 000 11 000 Light & power Telephone Depreciation Rent 7 500 12 500 15 000 Each overhead cost is apportioned on the following basis: Factory Selling & distribution General administration 50% 20 % 30% The number of decorative tiles done and sold during the period was 50 000 at 57 per tile
Question 3 The following information for the period ending June 30, 2015, was taken from the books of Furnishing Homes, manufacturers of decorative tiles. Carriage in on raw materials Opening sock of raw materials Purchase of raw materials Purchases retums Closing stock of raw materials Production wages Direct factory wages Work in progress- July 1, 2014 Work in progress- June 30, 2015 Insurance Salaries 12 000 40 000 160 000 62 000 30 000 47 000 6 000 13 000 21 000 Overhead: 8 000 28 000 11 000 Light & power Telephone Depreciation Rent 7 500 12 500 15 000 Each overhead cost is apportioned on the following basis: Factory Selling & distribution General administration 50% 20 % 30% The number of decorative tiles done and sold during the period was 50 000 at 57 per tile
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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