![]() Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31, 2019. Garcon Company Pepper Company Beginning finished goods inventory $14,700 $19,450 Beginning work in process inventory 17,900 19,950 Beginning raw materials inventory (direct materials) 7,100 12,300 Rental cost on factory equipment 32,500 25,000 Direct labor 20,200 37,800 Ending finished goods inventory 19,250 14,800 Ending work in process inventory 24,100 21,400 Ending raw materials inventory 6,400 8,000 Factory utilities 12,900 12,750 Factory supplies used (indirect materials) 10,900 4,300 General and administrative expenses 26,500 46,000 Indirect labor 2,300 8,800 Repairs-Factory equipment 7,460 2,000 Raw materials purchases 43,000 68,500 Selling expenses 60,800 46,000 Sales 231,030 302,510 Cash 31,000 20,200 Factory equipment, net 227,500 166,825 Accounts receivable, net 16,200 24,700 Required: 1. ![]() State the total debit amount to the Purchases account for the month.The following data is provided for Garcon Company and Pepper Company. Rollins Plumbing Service completed $120 in repair work (Maintenance Expense) on account, Invoice RP432. Updated ApReviewed by Chip Stapleton In accounting, general and administrative expenses represent the necessary costs to maintain a company's daily operations and administer its. Returned $200 in merchandise to Mohican Falls Kayak Wholesalers, Debit Memorandum 68. Manufacturing costs and selling and administrative expenses for 2006 were as follows: Fixed costs Variable costs Raw materials - P2/unit produced Direct labor - P1/unit produced Factory overhead P 120,000 P0/unit produced Selling and administrative P 70,000 P1/unit produced 18. For accounting professionals, administrative or non-manufacturing overhead describes a client’s general business expenses unrelated to production, marketing, or research costs. Such costs are in the nature of administrative support. Purchased $6, 200 in merchandise on account from Mohican Falls Kayak Wholesalers, Invoice 45332, terms 3/15, n /45. There was no work-in-process inventory at December 31, 2006. Production overheads include administration cost relating to production, factory, works or manufacturing. ![]() Issued Check 888 to World-Wide Insurance Company for $2, 500 in payment of business insurance premium. Bought $230 in supplies on account from StoreMart Supply, Invoice SM 101, terms n /30. Issued Check 887 for $98 to Santini Trucking Company for delivery of merchandise purchased from Trailhead Canoes. 28 Rollins Plumbing Service completed $ 120 in repair work (Maintenance Expense) on account, Invoice RP432. Administrative expenses are expenses that cannot be directly tied to a specific function. 25 Returned $ 200 in merchandise to Mohican Falls Kayak Wholesalers, Debit Memorandum 68. General expenses pertain to operational overhead expenses that impact the entire business. 21 Paid StoreMart Supply the balance due on their account, $ 205 ( $ 230 less $ 25 credit), Check 890. 18 Issued Debit Memorandum 67 for $ 25 to StoreMart Supply for damaged supplies purchased on March 7. 15 Purchased $ 6, 200 in merchandise on account from Mohican Falls Kayak Wholesalers, Invoice 45332, terms 3 / 15, n / 45. 11 Issued Check 889 to Trailhead Canoes for $ 8, 036 in payment of Invoice T C 202 for $ 8, 200 less a 2 % cash discount of $ 164. ![]() 9 Issued Check 888 to World-Wide Insurance Company for $ 2, 500 in payment of business insurance premium. 7 Bought $ 230 in supplies on account from StoreMart Supply, Invoice S M 101, terms n / 30. 5 Issued Check 887 for $ 98 to Santini Trucking Company for delivery of merchandise purchased from Trailhead Canoes. Selling and administrative overhead: Selling. In your working papers, record the following transactions on page 16 of the general journal.ĭate Transactions Mar. 1 Purchased $ 8, 200 in merchandise on account from Trailhead Canoes, Invoice T C 202, terms 2 / 10, n / 30. Expenses such as factory rent, consumables, depreciation, repairs, and upkeep are examples of factory overheads. River’s Edge Canoe & Kayak had the following purchases and cash payment transactions for the month of March. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |