Solution-Determine direct material destroyed

Determine direct material destroyed

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Reference no: EM132609815

A fire destroyed XYZ manufacturing company completely on January 29, 2011. Fortunately certain accounting records were kept in another building. It revealed the following for the period from January 1, 2011 to January 29, 2011.

Direct material used Br 160,000

WIP January 1 34,000

Direct material January 1, 2011 16,000

Finished Goods Inventory January 1, 2004 36,000

MOH cost 40% of conversion cost

Revenue 500,000

Direct labor cost 180,000

Prime cost 294,000

Gross profit based on sales 20%

Cost of Goods available for sale 450,000

Required:

Question a) Direct material destroyed

Question b) Cost of goods manufactured

Question c) Finished goods destroyed

Question d) WIP destroyed

Reference no: EM132609815

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Determine direct material destroyed

Reference no: EM132609815

Reference no: EM132609815

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