ass 4 - Question 1 Correct. The following information is...

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Question 1 Correct. The following information is selected from the accounting records of Walmer Company: 2009 Jan. 1 Dec. 31 Direct materials $ 35,00 0 $ 38,000 Work-in-process 42,00 0 28,000 Finished goods 32,00 0 27,000 Direct materials purchased $120,000 Direct labour $ 96,000 Direct labour rate per hour $ 12 Manufacturing overhead rate per direct labour hour $ 10 What was the prime cost for the year? $293,000 $213,000 $176,00 0 $197,000 Question 2 Correct. Kelita's Kar Kare Kompany had the following cost and inventory data for the month: Costs incurred for the month: Direct labour $6,900 Indirect labour 1,500 Direct materials purchased 4,500 Factory utilities 2,200 Factory amortization 3,000 Factory supervision 1,200 Inventories: Ending Beginning
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Direct materials $1,500 $1,800 Work in process 4,500 4,050 Finished goods 6,000 5,250 What were the direct materials available for the month? $7,80 0 $4,500 $6,00 0 $6,300 Question 3 Correct. Kelita's Kar Kare Kompany had the following cost and inventory data for the month: Costs incurred for the month: Direct labour $6,900 Indirect labour 1,500 Direct materials purchased 4,500 Factory utilities 2,200 Factory amortization 3,000 Factory supervision 1,200 Inventories: Ending Beginning Direct materials $1,500 $1,800 Work in process 4,500 4,050 Finished goods 6,000 5,250 Assume that total production costs incurred for the month were $15,000. What was the cost of goods sold? $15,300 $19,800
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$20,550 $13,800 Question 4 Canton Ltd. manufactures handbags. Selected account balances for the year ende December 31, 2009, are presented below: Amortization—factory Beginning direct materials inventory Beginning finished-goods inventory Beginning work-in-process inventory Direct labour Direct material purchases Ending direct materials inventory Ending finished-goods inventory Ending work-in-process inventory Factory insurance Factory maintenance Factory utilities General and administrative expenses Indirect labour Indirect materials Sales Selling expenses Instructions Round all entries to whole amounts. Correct. Prepare a schedule of cost of goods manufactured. Canton Ltd. Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2009 Direct Materials Beginning Direct Materials Add Purchases of Direct Materials Direct Materials Available for Use Ending Direct Materials Direct Materials Used in Production
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Direct Labour Manufacturing Overhead Amortization - factory Factory Insurance Factory Maintenance Factory Utilities Indirect Labour Indirect Materials Total Manufacturing Overhead Manufacturing Costs Incurred in 2009 Add Beginning Work in Process Inventory Total Manufacturing Costs to Account For Less Ending Work in Process Inventory Cost of Goods Manufactured Correct. Calculate the prime cost and conversion cost.
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ass 4 - Question 1 Correct. The following information is...

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