Maurice Tutor

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    Argosy University/ Phoniex University/
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Category > Accounting Posted 07 May 2018 My Price 6.00

Altek Manufacturing Company

Selected data concerning the past year’s operations of the Altek Manufacturing Company are as follows:

 

Inventories ($) Beginning Ending Raw materials 71,000 81,000

 

Work in Process 80,000 30,000

 

Finished Goods 90,000 110,000

 

Other Data:

 

Direct Materials Used ---------------------------------------- $ 326,000

 

Total Manufacturing Costs Charged to
production during the year (includes
direct material, direct labour, and manufacturing overhead applied at a rate of 60% of direct-labour cost) -----------------------$ 686,000

 

Cost of Goods Available for Sale ----------------------$ 826,000
Selling and Administration Expenses -------------------- $ 31,500
Required:
i. What was the cost of raw materials purchased during the year?--------------------

 

ii. What was the direct-labour cost charged to production during the year?---------

 

iii. What was the cost of goods manufactured during the year?-----------------------

iv What was the cost of goods sold during the year?----------------

Answers

Maurice Tutor
(5)
Status NEW Posted 07 May 2018 04:05 PM My Price 6.00

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