Please solve sub-parts D, E and F Part 1Shades of the Caribbean design and manufacture sun-glasses for the tourism sector. The accountingrecords of the business reflect the following data at June 30, 2018:Inventory1/7/201730/6/2018Raw Materials $230,000 $260,000Factory Supplies$35,000 $24,000Work in Progress $358,000 $213,000Finished Goods $975,400 $585,000Other information:Sales RevenueFactory Supplies PurchasedDirect Factory LaborRaw Materials PurchasedPlant janitorial serviceDepreciation: Plant & EquipmentTotal Utilities 1Production Supervisor's SalaryHiring of Specialized Manufacturing EquipmentInsurance on Plant & EquipmentDelivery Vehicle Drivers' WagesDepreciation: Delivery VehicleProperty Taxes 2Administrative Wages & SalariesAdvertising Expenses$5,675,00064,000792,000560,00037,000186,000481,250450,00068,000112,000189,00053,850240,000850,7501% of Sales Revenue1 Of the total utilities, 80% relates to manufacturing and 20% relates to general and administrative costs.2 The property taxes should be shared: 75% manufacturing & 25% general & administrative costsRequired:(A) Calculate the raw mate factory supplies used by Shades of the Caribbean:(B) What is the total manufacturing overhead cost incurred by Shades of the Caribbean during theperiod?(C) Determine the prime cost & conversion cost of the product manufactured.(D) Prepare a schedule of cost of goods manufactured for the year ended June 30, 2018, clearlyshowing total manufacturing costs & total manufacturing costs to account for.(E) Prepare an income statement for the year ended June 30, 2018, clearly showing the calculation ofCost of Goods sold. List the non-production overheads in order of size starting with the largest.COS(F) Given that the company manufactured 1,600 sun-glasses, compute the company's unit product costfor the year.

Calculation of Cost of Goods Manufactured Particular Amount ($) Amount ($) Beginning Raw…

Part 1 Shades of the Caribbean design and manufacture sun-glasses for the tourism sector. The accounti records of the business reflect the following data at June 30, 2018: Inventory 1/7/2017 30/6/2018 Raw Materials $230,000 $260,000 Factory Supplies $35,000 $24,000 Work in Progress $358,000 $213,000 Finished Goods $975,400 $585,000 Other information: Sales Revenue Factory Supplies Purchased Direct Factory Labor Raw Materials Purchased Plant janitorial service Depreciation: Plant & Equipment Total Utilities $5,675,000 64,000 792,000 560,000 37,000 186,000 481 250

Part 1 Shades of the Caribbean design and manufacture sun-glasses for the tourism sector. The accounti records of the business reflect the following data at June 30, 2018: Inventory 1/7/2017 30/6/2018 Raw Materials $230,000 $260,000 Factory Supplies $35,000 $24,000 Work in Progress $358,000 $213,000 Finished Goods $975,400 $585,000 Other information: Sales Revenue Factory Supplies Purchased Direct Factory Labor Raw Materials Purchased Plant janitorial service Depreciation: Plant & Equipment Total Utilities $5,675,000 64,000 792,000 560,000 37,000 186,000 481 250

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 84PSA

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Part 1Shades of the Caribbean design and manufacture sun-glasses for the tourism sector. The accountingrecords of the business reflect the following data at June 30, 2018:Inventory 1/7/2017 30/6/2018Raw Materials $230,000 $260,000Factory Supplies $35,000 $24,000Work in Progress $358,000 $213,000Finished Goods $975,400 $585,000 Other information:Sales Revenue $5,675,000Factory Supplies Purchased 64,000Direct Factory Labor 792,000Raw Materials Purchased 560,000Plant janitorial service 37,000Depreciation: Plant & Equipment 186,000Total Utilities 1 481,250Production Supervisor’s Salary 450,000Hiring of Specialized Manufacturing Equipment 68,000Insurance on Plant & Equipment 112,000Delivery Vehicle Drivers’ Wages 189,000Depreciation: Delivery Vehicle 53,850Property Taxes 2 240,000Administrative Wages & Salaries 850,750Advertising Expenses 1% of Sales Revenue1 Of the total utilities, 80% relates to manufacturing and 20% relates to general and administrative…
Shades of the Caribbean design and manufacture sun-glasses for the tourism sector. The accounting records of the business reflect the following data at June 30, 2018:Inventory 1/7/2017 30/6/2018Raw Materials $230,000 $260,000Factory Supplies $35,000 $24,000Work in Progress $358,000 $213,000Finished Goods $975,400 $585,000Other information:Sales Revenue $5,675,000Factory Supplies Purchased 64,000Direct Factory Labor 792,000Raw Materials Purchased 560,000Plant janitorial service 37,000Depreciation: Plant & Equipment 186,000Total Utilities 1 481,250Production Supervisor’s Salary 450,000Hiring of Specialized Manufacturing Equipment 68,000Insurance on Plant & Equipment 112,000Delivery Vehicle Drivers’ Wages 189,000Depreciation: Delivery Vehicle 53,850Property Taxes 2 240,000Administrative Wages & Salaries 850,750Advertising Expenses 1% of Sales Revenue1 Of the total utilities, 80% relates to manufacturing and 20% relates to general and administrative costs.2 The property taxes…
Part 1Shades of the Caribbean design and manufacture sun-glasses for the tourism sector. The accountingrecords of the business reflect the following data at June 30, 2018:Inventory 1/7/2017 30/6/2018Raw Materials $230,000 $260,000Factory Supplies $35,000 $24,000Work in Progress $358,000 $213,000Finished Goods $975,400 $585,000 Other information:Sales Revenue $5,675,000Factory Supplies Purchased 64,000Direct Factory Labor 792,000Raw Materials Purchased 560,000Plant janitorial service 37,000Depreciation: Plant & Equipment 186,000Total Utilities 1 481,250Production Supervisor’s Salary 450,000Hiring of Specialized Manufacturing Equipment 68,000Insurance on Plant & Equipment 112,000Delivery Vehicle Drivers’ Wages 189,000Depreciation: Delivery Vehicle 53,850Property Taxes 2 240,000Administrative Wages & Salaries 850,750Advertising Expenses 1% of Sales Revenue1 Of the total utilities, 80% relates to manufacturing and 20% relates to general and administrative…
hades of the Caribbean design and manufacture sun-glasses for the tourism sector. The accounting records of the business reflect the following data at June 30, 2018:Inventory 1/7/2017 30/6/2018Raw Materials $230,000 $260,000Factory Supplies $35,000 $24,000Work in Progress $358,000 $213,000Finished Goods $975,400 $585,000Other information:Sales Revenue $5,675,000Factory Supplies Purchased 64,000Direct Factory Labor 792,000Raw Materials Purchased 560,000Plant janitorial service 37,000Depreciation: Plant & Equipment 186,000Total Utilities 1 481,250Production Supervisor’s Salary 450,000Hiring of Specialized Manufacturing Equipment 68,000Insurance on Plant & Equipment 112,000Delivery Vehicle Drivers’ Wages 189,000Depreciation: Delivery Vehicle 53,850Property Taxes 2 240,000Administrative Wages & Salaries 850,750Advertising Expenses 1% of Sales Revenue1 Of the total utilities, 80% relates to manufacturing and 20% relates to general and administrative costs.2 The property taxes…
Preparation of SCI for a Merchandising Business Using the Multistep Approach Instructions: Prepare a Statement of Comprehensive Income for the year ended December 31,2020 the using the following account titles listed. Cost of Sales ₱2,675,000 Depreciation expense ₱105,000 Rent expense ₱240,000 Salaries expense ₱360,000 Sales Discount ₱826,500 Sales Returns and Allowances ₱275,500 Sales ₱5,510,000 Supplies expense ₱540,000 Taxes ₱92,400 Utilities expense ₱180,000
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Gopaul Electronics designs and manufactures specialized switches for the telecommunications industry. Theaccounting records of the business reflect the following data at December 31, 2023:Inventory 1/1/2023 31/12/2023Raw Materials $260,000 $230,000Work In Progress $333,800 $218,800Finished Goods $1,075,200 $615,000Other information:Sales Revenue $5,765,000Factory supplies 45,000Direct Factory Labor 735,000Special Design Cost 15,000Raw Materials Purchased 540,000Plant janitorial service 52,000Depreciation: Plant & Equipment 165,000Plant Utilities 385,000Plant supervisor’s salary 480,000Property Taxes 1 300,000R & D for Graphic Designs 70,500Office Utilities 165,000Insurance on Plant & Equipment 120,000Delivery truck driver’s wages 125,000Depreciation: Delivery truck 52,000Administrative Wages & Salaries 850,150Sales Commission 97,6501 The property taxes should be shared: 60% manufacturing & 40% general & administrative costs.Required:a) Calculate the raw material…
1. Jorasmi Enterprise Trial Balance as at 31 December 2020 Credit RM Particulars Debit RM Inventory of raw materials 1 Jan 2020 Inventory of finished goods 1 Jan 2020 Work in progress 1 Jan 2020 Wages (direct RM180,000, factory indirect RM145,000) Royalties Carriage inwards (on raw materials) Purchases of raw materials Productive machinery (cost RM280,000) 21,000 38,900 13,500 325,000 7,000 3,500 370 000 230.000 12,000 31,000 7,500 13,700 44,000 Administration computers (cost RM20,000) Coneral factory expenses General Lighting actory power Factory Administration salaries Sales Sales representative salaries Commission on sales Rent 30,000 11,500 12,000 4,200 13,400 2,300 4,800 5,900 Insurance General administration expenses Bank charges Discount allowed Carriage outwards Sales 1,000,000 64,000 Account receivable and accounts payable Bank Cash Drawings Capital as at 1 Jan 2020 142,300 16,800 1,500 60,000 357,800 1,421,800 1,421,800 ТОTAL Prepared by: Puan Siti Nor Junita Mohd Radzi…
1. Jorasmi Enterprise Trial Balance as at 31 December 2020 Particulars Debit RM Credit RM Inventory of raw materials 1 Jan 2020 21,000 Inventory of finished goods 1 Jan 2020 38,900 Work in progress 1 Jan 2020 13,500 Wages (direct RM180,000, factory indirect RM145,000) 325,000 Royalties 7,000 Carriage inwards (on raw materials) 3,500 Purchases of raw materials 370,000 Productive machinery (cost RM280,000) 230,000 Administration computers (cost RM20,000) 12,000 General factory expenses 31,000 Lighting 7,500 Factory power 13,700 Administration salaries 44,000 Sales representative salaries 30,000 Commission on sales 11,500 Rent 12,000 Insurance 4,200 General administration expenses 13,400 Bank charges 2,300 Discount allowed 4,800 Carriage outwards 5,900 Sales…
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