{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Week 12 Tutorial Questions Solutions

Week 12 Tutorial Questions Solutions - ACCT1501 2011S1 Week...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
ACCT1501 2011S1 1 Week 12 Tutorial Questions Solutions Tutorial Questions: Problem 16.7 - Question 1 only (i.e. do not do 2 and 3), Vincent’s Cappuccino Express Problem 16.7 Question 1 W. W. Phillips Company Statement of Cost of Goods Manufactured For the Year Ended December 31, 1998 Direct materials: Beginning inventory $ 46,800 Add: Purchases 320,000 Materials available $366,800 Less: Ending inventory 66,800 Direct materials used $300,000 Direct labour 200,000 Manufacturing overhead: Indirect labour $ 40,000 Rent 42,000 Depreciation 60,000 Utilities 11,956 Total overhead costs 153,956 Total manufacturing costs $653,956 Add: Beginning work in process 13,040 Total cost of work in process $666,996 Less: Ending work in process 14,996 Cost of goods manufactured $652,000
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon