Pr 2-24 solution

Pr 2-24 solution - Problem 224(60 minutes 1 Valenko Company Schedule of Cost of Goods Manufactured Direct materials Raw materials inventory

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Problem 2-24  (60 minutes) 1. Valenko Company Schedule of Cost of Goods Manufactured Direct materials: Raw materials inventory, beginning. ........ $ 50,000 Add: Purchases of raw materials. .............   260,000     Raw materials available for use. .............. 310,000 Deduct: Raw materials inventory, ending.       40,000     Raw materials used in production. ........... $270,000 Direct labour. ............................................... 65,000 * Manufacturing overhead: Insurance, factory. .................................... 8,000 Rent, factory building. .............................. 90,000 Utilities, factory. ........................................ 52,000 Cleaning supplies, factory. ....................... 6,000 Depreciation, factory equipment. .............. 110,000 Maintenance, factory. ...............................       74,000     Total overhead costs. ..................................   340,000     Total manufacturing costs. .......................... 675,000 (given)
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This note was uploaded on 06/24/2011 for the course FMGT 2294 taught by Professor Jeyakumar during the Spring '10 term at Langara.

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Pr 2-24 solution - Problem 224(60 minutes 1 Valenko Company Schedule of Cost of Goods Manufactured Direct materials Raw materials inventory

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