Calculate the cost of materials requisitioned for production

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Reference no: EM131918513

Question 1 - The ObiWan Company reported the following data related to its manufacturing operations during year y1 to y2 (ObiWan has a December 31st year end)


Jan 1, Y2

Jan 1, Y1

Raw Materials

7,300

5,500

Work in Process

25,700

23,400

Finished Goods

41,600

48,500




Cost Incurred:



Raw Material Purchased

83,000


Factory direct labor

153,000


Factor Suppliers

36,000


Factory depreciation

93,000


President's Salary

103,000


Sales force salaries

56,000


Sales force expenses

5,200


Heat, Light and power

12,000


(75% applies to manufacturing)



Insurance

36,000


(60% applies to manufacturing)

Calculate:

a: The cost of materials requisitioned for production during the year(between y1 and y2)

b: The cost of the units that were completed and transferred to finished goods during the year

c: The cost of goods sold during the year

Question 2 - The Chewbaca Company reported the folowing data related to its manufacturing operations between Year1 and Year2 (Chewbaca has a December 31st Fiscal year end)


Jan 1, Y2

Jan 1, Y1

Raw Materials

10,200

3,800

Work in Process

22,600

18,500

Finished Goods

38,750

38,105




Cost Incurred:



Raw Material Purchased

88,700


Factory direct labor

178,960


Factor Suppliers

43,650


Factory depreciation

105,000


President's Salary

110,000


Sales force salaries

88,000


Sales force expenses

8,700


Heat, Light and power

16,000


Factory Insurance

29,000


Calculate:

a: The cost of materials requisitioned for production during the year.

b: The cost of the units that were completed and transferred to finished goods during the year.

c: The cost of goods sold during the year.

Reference no: EM131918513

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