[The following information applies to the questions displayed below. Using the f

Question

[The following information applies to the questions displayed below. Using the following data Beginning finished goods Inventory Beginning goods In process Inventory Beginning raw materials Inventory Rental cost on factory equipment Direct labor Ending finished goods Inventory Ending goods In process Inventory Ending raw materials Inventory Factory utilities Factory supplies used General and administrative expenses Indirect labor Repalrs-Factory equipment Raw materlals purchases Sales salaries Garcla Company $ 10,000 18,000 12,500 28,000 20,000 23,000 22,000 8,400 11,000 8,900 24,000 1,250 4,780 25,000 57,000 Culpepper Company $23,000 19,000 12,000 24,000 32,000 13,500 6,000 12,900 11,000 8,800 53,000 7,660 1,500 44,000 52,000

Explanation / Answer

Answer

Answer 1 & 2

Figures in $

Particulars

Garcia Company

Culpepper Company

Opening raw material inventory

a

12500

12000

Raw material purchases

b

25000

44000

Ending raw material

c

-8400

-12900

Direct material consumed (a+b+c)

d

29100

43100

Direct labor

e

20000

32000

Prime Cost      (d+e)

f

49100

75100

Factory overhead

Rental cost on factory equipment

g

28000

24000

Factory Utilities

h

11000

11000

Factory Supplies Used

i

8900

8800

Indirect labor

j

1250

7660

Repairs - Factory equipment

k

4780

1500

Total manufacturing costs (f+g+h+i+j+k)

l

103030

128060

Opening work in process

m

18000

19000

Ending work in process

n

-22000

-16000

Cost of goods manufactured   (l+m+n)

o

99030

131060

General and administrative Expenses

p

24000

53000

Opening Finished goods

q

10000

23000

Ending Finished goods

r

-23000

-13500

Cost of production of goods sold (o+p+q+r)

110030

193560

Figures in $

Particulars

Garcia Company

Culpepper Company

Opening raw material inventory

a

12500

12000

Raw material purchases

b

25000

44000

Ending raw material

c

-8400

-12900

Direct material consumed (a+b+c)

d

29100

43100

Direct labor

e

20000

32000

Prime Cost      (d+e)

f

49100

75100

Factory overhead

Rental cost on factory equipment

g

28000

24000

Factory Utilities

h

11000

11000

Factory Supplies Used

i

8900

8800

Indirect labor

j

1250

7660

Repairs - Factory equipment

k

4780

1500

Total manufacturing costs (f+g+h+i+j+k)

l

103030

128060

Opening work in process

m

18000

19000

Ending work in process

n

-22000

-16000

Cost of goods manufactured   (l+m+n)

o

99030

131060

General and administrative Expenses

p

24000

53000

Opening Finished goods

q

10000

23000

Ending Finished goods

r

-23000

-13500

Cost of production of goods sold (o+p+q+r)

110030

193560

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