Question 1: Given the following, statement prepare manufacturing statement and partial income Raw materials inventory...
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Question 1: Given the following, statement prepare manufacturing statement and partial income Raw materials inventory 1/1/05 Raw materials inventory 12/31/05 Work in process inventory 1/1/05 Work in process inventory 12/31/05 Finished goods inventory 1/1/05 Finished goods inventory 12/31/05 Factory insurance Depreciation, factory machinery Utilities, factory Utilities, office Repairs, factory 8,000 5,000 2,000 3,000 15,000 16,000 2,000 2,000 500 500 500 15,000 100,000 20,000 Raw materials purchases Sales Direct labor Indirect labor Plant manager's salary Property taxes, office building 5,000 5,000 1,000 Question 2: Douban Corporation provided the following information for the year: $27,000 57,000 87,000 Beginning Balance-Work-in-Process Inventory Ending Balance-Work-in-Process Inventory Beginning Balance-Raw Materials Inventory Ending BalanceRaw Materials Inventory Purchases-Raw Materials Direct Labor Indirect Labor Depreciation on Factory Plant and Equipment Plant Utilities and Insurance 61,000 358,000 469,000 21,000 22,000 271,000 What was the total manufacturing costs incurred during the year? A) $698,000 B) $314,000 C) $853,000 D) $1,167,000
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