The following figures for the month of April, 2012 were extracted from the records of a factory: Opening stock of finished goods (5,000 units) Rs. 45,000 Purchase of raw materials Rs. 2,57,100 Direct wages Rs. 1,05,000 Factory overhead 100% of direct wages Administration overhead Re. 1 per unit 10% of sales Selling and distribution overhead ? Closing stock of finished goods (10,000 units) Rs. 6,60,000 Sales (45,000 units) Prepare a cost sheet for the month of April, 2012, assuming that sales are made on the basis of 'first-in- first-out principle.

The following figures for the month of April, 2012 were extracted from the records of a factory: Opening stock of finished goods (5,000 units) Rs. 45,000 Purchase of raw materials Rs. 2,57,100 Direct wages Rs. 1,05,000 Factory overhead 100% of direct wages Administration overhead Re. 1 per unit 10% of sales Selling and distribution overhead ? Closing stock of finished goods (10,000 units) Rs. 6,60,000 Sales (45,000 units) Prepare a cost sheet for the month of April, 2012, assuming that sales are made on the basis of 'first-in- first-out principle.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 14PA: Total Pops data show the following information: New machinery will be added in April. This machine...

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Pattison Products, Inc., began operations in October and manufactured 40,000 units during the month with the following unit costs: Fixed overhead per unit = 280,000/40,000 units produced = 7. Total fixed factory overhead is 280,000 per month. During October, 38,400 units were sold at a price of 24, and fixed marketing and administrative expenses were 130,500. Required: 1. Calculate the cost of each unit using absorption costing. 2. How many units remain in ending inventory? What is the cost of ending inventory using absorption costing? 3. Prepare an absorption-costing income statement for Pattison Products, Inc., for the month of October. 4. What if November production was 40,000 units, costs were stable, and sales were 41,000 units? What is the cost of ending inventory? What is operating income for November?
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A company estimates its manufacturing overhead will be $750,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? Budgeted direct labor hours: 60,000 Budgeted direct labor expense: $1,500,000 Estimated machine hours: 100,000
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ABS Co. has these data related to production of 30,000 units during March 2021: 3/1/21 3/1/21 Direct materials (DM) P36,000 30,000 Work in process 18,000 12,000 Finished goods 54,000 72,000 Additional information for the March 2021 are as follows:DM purchased P84,000Factory overhead per DLhour P10.00Freight-out 2,000Selling expenses 15,000Direct Labor (DL) payroll 60,000Administrative expenses 17,000DL rate per hour 7.50 For the month of March 2021, PRIME cost was:A. P90,000B. P120,000C. P144,000D. P150,000