Class Notes (1,100,000)
CA (630,000)
York (40,000)
ADMS (3,000)
Lecture

Practice questions.xlsx


Department
Administrative Studies
Course Code
ADMS 2510
Professor
Alison Beavis

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Review Problem 2
Selling expenses $140,000
Raw materials inventory, January 1 90,000
Raw materials inventory, December 31 60,000
Utilities, factory. 36,000
Direct labour cost 150,000
Depreciation, factory 162,000
Purchases of raw materials 750,000
Sales 2,500,000
Insurance, factory 40,000
Supplies, factory 15,000
Administrative expenses 270,000
Indirect labour 300,000
Maintenance, factory 87,000
Work in process inventory, January 1 180,000
Work in process inventory, December 31 100,000
Finished goods inventory, January 1 260,000
Finished goods inventory, December 31 210,000
2-3
sales
Beg. Inv 140000
add: purchases 2550000
Goods available for sale 2690000
Less: ending inv 180000
COGS
Gross margin
Less: expenses
selling exp 110000
admin exp 470000
Total expenses
Net income
3-3
14.65 POHR
10.08292683 Actual

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4-2
units
beginning inv. 25000
ending inv. 15000
205000
4-4
Cost of transferred units
53144 TOTAL
cost of ending WIP
10400
4-6
Litres
Work in process, May 1 80,000
Litres started in process 760,000
Litres transferred out 790,000
Work in process, May 31 50,000
Cost added during May
Answer:
Materials
68600
907200
975800
820000
1.19

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4-9 Products
transferred 25000
Ending inv 3000
cost per equivalent units
4-12
Prodcut
Work in process, May 1 5,000
Started into production
29,000
Transferred to next department
30,000
Work in process, May 31 4,000
Equivalent units Material
30000
3000
33000
4-14
Units
Work in process, Jan. 1 (materials 100% complete; conversion
80% complete)
20,000
Started into production 800,000
Costs added during the year
Units completed during the year 790,000
Equivalent
Materials
790000
30000
Equivalent units of production 820000
Wip
Materials
Costs
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