Which of the following accounts is used to monitor the products that are still in production on the balance sheet date, but have not yet become final (products) but have received a share from the raw materials and materials, labor costs and general production expenses ? a) 157 Other Stocks Hs. B) 150 Primary Materials and Materials Hs. NS) 151 Semi-Finished Products Hs. D) 153 Commercial Goods Hs. TO) 152 Products Hs.
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- The following data of the industrial enterprise D S.A. for the accounting year 20X9 are given. Raw material stock 1/1/20X9 45.000€ Raw material stock 31/12/20X9 41.000€ Stock of semi-finished products 1/1/20X9 36.000€ Stock of semi-finished products 31/12/20X9 31.000€ Stock of ready-made products 1/1/20X9 23.000€ Stock of ready-made products 31/12/20X9 31.000€ Purchases of raw materials 115.000€ Direct labour costs 29.000€ Indirect labour costs 23.000€ Factory insurance premiums 12.500€ Miscellaneous factory outlets 6.500€ Machine depreciation 8.500€ Depreciation of production department equipment 3.500€ Maintenance of machinery 4.000€ Sales expenses 15.000€ Administrative expenses 29.000€ Distribution costs 8.000€ Revenue from product sales 543.000€ Requested: The report of the cost of produced The profit and loss statement for the financial yearThe following data of the industrial enterprise D S.A. for the accounting year 20X9 are given. Raw material stock 1/1/20X9 45.000€ Raw material stock 31/12/20X9 41.000€ Stock of semi-finished products 1/1/20X9 36.000€ Stock of semi-finished products 31/12/20X9 31.000€ Stock of ready-made products 1/1/20X9 23.000€ Stock of ready-made products 31/12/20X9 31.000€ Purchases of raw materials 115.000€ Direct labour costs 29.000€ Indirect labour costs 23.000€ Factory insurance premiums 12.500€ Miscellaneous factory outlets 6.500€ Machine depreciation 8.500€ Depreciation of production department equipment 3.500€ Maintenance of machinery 4.000€ Sales expenses 15.000€ Administrative expenses 29.000€ Distribution costs 8.000€ Revenue from product sales 543.000€ Requested: The report of the cost of producing The profit and loss statement for the financial yearFrom the following particulars calculate prime cost, works cost, cost of production, cost of sales and profit Prime Industries manufacture a product A. on 1st January 2020 finished goods in stock $50000. Other stocks such as:Work in progress (1.1.2020) $40000Raw materials (1.1.2020) $100000The information available from cost records for the year ended 31st December 2020 was as follows:
- Product cost concept of product pricing Based on the data presented in Exercise 12-15, assume that Willis Products Inc. uses the product cost concept of applying the cost-plus approach to product pricing. a.Determine the total manufacturing costs and the cost amount per unit for the production and sale of 200,000 units. b.Determine the product cost markup percentage per unit. Round to two decimal place. c.Determine the selling price per unit. Round to the nearest dollar.Porter Company is engaged solely in manufacturing operations. The following data (consistent withprior-years data) pertain to the segments in which operations were conducted for the year endedDecember 31, 2019.Segment TotalRevenueSegmentProfitAssets at31/12/19A $10,000,000 $1,750,000 $20,000,000B 8,000,000 1,400,000 17,500,000C 6,000,000 1,200,000 12,500,000D 3,000,000 550,000 7,500,000E 4,250,000 675,000 7,000,000F 1,500,000 225,000 3,000,000Totals $32,750,000 5,800,000 67,500,000In its segment information for 2019, how many reportable segments does Porter have?A. 3B. 4C. 5D. 6The following information is given for the activity of the accounts of the company "PLIADES" during the cost period from 1/1 – 30/6. Initial stock (r.a.) of direct materials = 5100, n.a. of semi-finished products = 6200, n.a. of finished products = 7700. During the period, purchases of materials worth 29,000 were made in cash. The cost of direct labor was 58000. The charging rate of the CBS was 25% of the cost of direct labour. Sales totaled 198,000, before returns were 1.5% of sales. Sales were made as follows: 1/3 with promissory notes, 1/3 cash and 1/3 with credit. The promissory notes incurred interest worth 1400 euros. The final stocks were: direct materials = 4500, semi-finished products = 3900 and finished products = 6800. The company's expenses during the above period were: depreciation = 1500, exhibition expenses = 800, factory insurance premiums = 650, administrative employees' fees=22000, depreciation of factory machinery = 1400, rent=6500, salesmen's travel expenses =…
- The following information is given for the activity of the accounts of the company "PLIADES" during the cost period from 1/1 – 30/6. Initial stock (r.a.) of direct materials = 5100, n.a. of semi-finished products = 6200, n.a. of finished products = 7700. During the period, purchases of materials worth 29,000 were made in cash. The cost of direct labor was 58000. The charging rate of the CBS was 25% of the cost of direct labour. Sales totaled 198,000, before returns were 1.5% of sales. Sales were made as follows: 1/3 with promissory notes, 1/3 cash and 1/3 with credit. The promissory notes incurred interest worth 1400 euros. The final stocks were: direct materials = 4500, semi-finished products = 3900 and finished products = 6800. The company's expenses during the above period were: depreciation = 1500, exhibition expenses = 800, factory insurance premiums = 650, administrative employees' fees=22000, depreciation of factory machinery = 1400, rent=6500, salesmen's travel expenses =…5. We know the following data of the company Perfilados, S.A: a) It bought and consumed € 105,000 in raw materials for the manufactureof its product and, on average, maintained a stock level of them in thestock of € 9,250. Calculate the average storage period.Calculate the average storage period.b) The cost of its annual production is € 198,000, and the average value ofthe products under development is € 11,000. Calculate the averagemanufacturing period. Page 7c) Taking into account that the company exclusively sold all its annualproduction and that the average value of its stock in finished goodswarehouse was € 18,500, it calculates its average sales period.d) Assuming that the company sold its products for an amount of € 290,000and that the customers had on average a debt with the company of €17,000, it calculates the average collection period.e) With the data obtained in the previous points, it calculates the averageperiod of economic maturity of Perfilados, S.A.Which one of the following is NOT correct about manufacturing statement? Select one: a. It includes direct and indirect labor cost. b. It reports Cost of Goods Manufactured and Cost of Goods Sold. c. It shows the financial position of a company on a specific date. d. It includes the adjustments for the opening and closing stocks of WIP and Finished Goods
- 4.The following were taken from accounting records of Bella Company in December 2020.Prime cost, P301,000Gross profit rate on sales, 20%Cost of goods available for sale, P460,000Direct materials purchased, P170,000Work in process, December 1, 2020, P34,000Direct Materials, December 1, 2020, P16,000Finished goods, December 1, 2020, P30,000Factory overhead, 40% of conversion cost.Sales, P500,000Direct labor, P180,000Compute for December 31, 2020: (1) Direct materials inventory; (2) Work in process inventory; (3) Finished goodsinventory: A.(1) P6,000 ; (2) P25,400 ; (3) P30,000B. (1) P49,000 ; (2) P25,000 ; (3) P30,000C. (1) P65,000 ; (2) P25,400 ; (3) P60,000D. (1) P65,000 ; (2) P25,000 ; (3) P60,000The following information is given to you from which you are required to prepare a Statement of Cost and Sales for the period ended on 30th June 2023:Consumable material: KOpening stock 20,000Purchases 122,000Closing stock 10,000Direct wages 36,000Direct Expenses 24,000Factory overheads 50 % of direct wagesOffice and administration overheads 20% of works costSelling and distribution expenses K3 per unit soldUnits of finished goods:In hand at the beginning of the period (Value K12,500) 500Units produced during the period 12,000In hand at the end of the period 1,500Profit on selling price 20% There is no work-in-progress either at the beginning or at the end of the period.57 Presented below are excerpts from the income statements of Ralos Company for the years ended December 31, 2021 and 2020. 2021 2020 Inc (Dec) Net sales P2,750,000 P2,500,000 P250,000 Cost of goods sold 1,584,000 1,600,000 ( 16,000) Gross margin P1,166,000 P 900,000 P234,000 The unit cost decreased by 10% on January 1, 2021. What is the effect on sales due to change in selling price? Group of answer choices P 75,000 increase P 0 P250,000 increase P275,000 increase