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ADMS 2510 (64)
Lecture

Practice questions.xlsx

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Department
Administrative Studies
Course
ADMS 2510
Professor
Alison Beavis
Semester
Winter

Description
Review Problem 2Selling expenses140000Raw materials inventory January 190000Raw materials inventory December 3160000Utilities factory36000Direct labour cost150000Depreciation factory162000Purchases of raw materials750000Sales2500000Insurance factory40000Supplies factory15000Administrative expenses270000Indirect labour300000Maintenance factory87000Work in process inventory January 1180000Work in process inventory December 31100000Finished goods inventory January 1260000Finished goods inventory December 3121000023salesBeg Inv140000add purchases2550000Goods available for sale2690000Less ending inv180000COGSGross marginLess expensesselling exp110000admin exp470000Total expensesNet income331465POHR1008292683Actual42unitsbeginning inv25000ending inv1500020500044Cost of transferred units53144TOTALcost of ending WIP1040046LitresWork in process May 180000Litres started in process760000Litres transferred out790000Work in process May 3150000Cost added during MayAnswerMaterials6860090720097580082000011949Productstransferred25000Ending inv3000cost per equivalent units412ProdcutWork in process May 1500029000Started into production30000Transferred to next departmentWork in process May 314000Equivalent unitsMaterial30000300033000414CostsUnitsWork in process Jan 1 materials 100 complete conversion 2000080 completeStarted into production800000Costs added during the yearUnits completed during the year790000EquivalentMaterials79000030000Equivalent units of production820000WipMaterials
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