Pro-Leather Company is a manufacturer of leather cases for tablets. The following information pertains to operations during the 2020 calendar year. Sales Revenue $14,275,000 Direct Factory Labor Indirect Factory Labor Total Depreciation ' Total Utilities 2 3,952,600 1,232,250 400,000 525,000 Distribution & Customer Service Costs 76,800 Insurance on Plant & Equipment Property Taxes 3 Administrative Wages & Salaries Advertising Expenses 585,000 90,000 1,076,000 57,700 Sales Commission 6% of Sales Revenue "Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general and administrative costs. 2 Of the total utilities, 75% relates to production and 25% relates to general and administrative costs. 3 The property taxes should be shared: 85% production & 15% general & administrative costs The following additional information is also available: Inventory Data: 1/1/2020 Purchases 31/12/2020 Raw Materials $750,000 $4,330,000 $807,000 Indirect Materials 55,000 320,000 71,500 Work in Progress Finished Goods n/a n/a 924,000 1,720,200 1,115,400 1,142,600

Pro-Leather Company is a manufacturer of leather cases for tablets. The following information pertains to operations during the 2020 calendar year. Sales Revenue $14,275,000 Direct Factory Labor Indirect Factory Labor Total Depreciation ' Total Utilities 2 3,952,600 1,232,250 400,000 525,000 Distribution & Customer Service Costs 76,800 Insurance on Plant & Equipment Property Taxes 3 Administrative Wages & Salaries Advertising Expenses 585,000 90,000 1,076,000 57,700 Sales Commission 6% of Sales Revenue "Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general and administrative costs. 2 Of the total utilities, 75% relates to production and 25% relates to general and administrative costs. 3 The property taxes should be shared: 85% production & 15% general & administrative costs The following additional information is also available: Inventory Data: 1/1/2020 Purchases 31/12/2020 Raw Materials $750,000 $4,330,000 $807,000 Indirect Materials 55,000 320,000 71,500 Work in Progress Finished Goods n/a n/a 924,000 1,720,200 1,115,400 1,142,600

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Pro-Leather Company is a manufacturer of leather cases for tablets. The following information pertains to operations during the 2020 calendar year.Sales Revenue $14,275,000Direct Factory Labor 3,952,600Indirect Factory Labor 1,232,250Total Depreciation 1 400,000Total Utilities 2 525,000Distribution & Customer Service Costs 76,800Insurance on Plant & Equipment 585,000Property Taxes 3 90,000Administrative Wages & Salaries 1,076,000Advertising Expenses 57,700Sales Commission 6% of Sales Revenue Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general and administrative costs.Of the total utilities, 75% relates to production and 25% relates to general and administrative costs.The property taxes should be shared: 85% production & 15% general & administrative costs. The following additional information is also available:Inventory Data: 1/1/2020 Purchases 31/12/2020Raw Materials…
Pro-Leather Company is a manufacturer of leather cases for tablets. The following information pertains to operations during the 2020 calendar year. Sales Revenue Direct Factory Labor Indirect Factory Labor Total Depreciation $14,275,000 3,952,600 1,232,250 400,000 Total Utilities 2 525,000 Distribution & Customer Service Costs 76,800 585,000 90,000 Insurance on Plant & Equipment Property Taxes 3 Administrative Wages & Salaries 1,076,000 57,700 6% of Sales Revenue Advertising Expenses Sales Commission I Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general and administrative costs. 2 Of the total utilities, 75% relates to production and 25% relates to general and administrative costs. 3 The property taxes should be shared: 85% production & 15% general & administrative costs The following additional information is also available: Inventory Data: 1/1/2020 Purchases 31/12/2020 $4,330,000 320,000 n/a Raw Materials $750,000 $807,000 Indirect Materials…
Pro-Leather Company is a manufacturer of leather cases for tablets. The following information pertains to operations during the 2020 calendar year. Sales Revenue $14,275,000 Direct Factory Labor Indirect Factory Labor Total Depreciation 1 3,952,600 1,232,250 400,000 Total Utilities 2 525,000 Distribution & Customer Service Costs 76,800 Insurance on Plant & Equipment 585,000 Property Taxes 3 Administrative Wages & Salaries Advertising Expenses 90,000 1,076,000 57,700 Sales Commission 6% of Sales Revenue 1Of the total depreciation, 80% relates to facto:y plant & equipment and 20% relates to general and administrative costs. 2 Of the total utilities, 75% relates to production and 25% relates to general and administrative costs. 3 The property taxes should be shared: 85% production & 15% general & administrative costs The following additional information is also available: Inventory Data: 1/1/2020 Purchases 31/12/2020 $750,000 $4,330,000 Raw Materials $807,000 Indirect Materials 55,000…
Pro-Leather Company is a manufacturer of leather cases for tablets. The following information pertains to operations during the 2020 calendar year. Sales Revenue $14,275,000 Direct Factory Labor Indirect Factory Labor Total Depreciation 1 3,952,600 1,232,250 400,000 Total Utilities 2 525,000 Distribution & Customer Service Costs 76,800 Insurance on Plant & Equipment 585,000 Property Taxes 3 Administrative Wages & Salaries Advertising Expenses 90,000 1,076,000 57,700 Sales Commission 6% of Sales Revenue 1Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general and administrative costs. 2 Of the total utilities, 75% relates to production and 25% relates to general and administrative costs. 3 The property taxes should be shared: 85% production & 15% general & administrative costs The following additional information is also available: Inventory Data: 1/1/2020 Purchases 31/12/2020 $750,000 $4,330,000 Raw Materials $807,000 Indirect Materials 55,000…
The following cost incurred by Lucky corporation for October 2019 were as follows: Direct Materials used, P20,000 Indirect materials used, P1,000 Direct labor, P9,000 Indirect labor, P5,000 Other factory cost, P5,000 Selling expenses,P10,000 Administrative expenses, P12,000 Question: How much is the total product cost? a. P62,000 b. P50,000 c. P29,000 d. P40,000 Plz answer fast without plagiarism and don't copy answer plz
Pro-Leather Company is a manufacturer of leather cases for tablets. The following information pertains to operations during the 2020 calendar year. Sales Revenue $14,275,000 Direct Factory Labor Indirect Factory Labor Total Depreciation ! 3,952,600 1,232,250 400,000 Total Utilities 2 525,000 Distribution & Customer Service Costs 76,800 Insurance on Plant & Equipment Property Taxes 3 Administrative Wages & Salaries | Advertising Expenses Sales Commission 585,000 90,000 1,076,000 57,700 6% of Sales Revenue 1Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general and administrative costs. 2 Of the total utilities, 75% relates to production and 25% relates to general and administrative costs. 3 The property taxes should be shared: 85% production & 15% general & administrative costs The following additional information is also available: Inventory Data: 1/1/2020 Purchases 31/12/2020 Raw Materials $750,000 $4,330,000 $807,000 Indirect Materials 55,000…
LLV Sdn Bhd was incorporated in April 2018. The company produces plastic container for local market. The company provides the following financial information that relates to its operation for the month ended 31 March 2019: LLV Sdn Bhd Statement of Profit or Loss and Other Comprehensive Income For the month ended 31 March 2019 RM RM Sales 900,000 Less : Indirect labor cost 24,000 Utilities expenses 30,000 Direct labor cost 140,000 Depreciation – factory equipment 42,000 Raw materials purchased 330,000 Depreciation – sales equipment 36,000 Insurance expenses 8,000 Rental expenses 100,000 Selling and administrative salaries 64,000 Advertising expenses 150,000 924,000 Net loss (24,000) The manager of LLV Sdn Bhd was disappointed with the loss appeared in the Statement of Profit or Loss and Other Comprehensive Income (SPLOCI). He said “This…
Octie Company reports the following costs and expenses in January 2020. Required: From the information given, determine the total amount of Manufacturing overhead Product costs Period costs Advertising P 15,000 Factory utilities P 10,800 Depreciation-Factory Equipment 14,500 Indirect labor 55,200 Depreciation-Delivery Truck 10,800 Office supplies used 11,100 Direct labor 82,100 Property taxes-Factory 5,500 Direct materials used 135,600 Repairs-Office Equipment 4,200 Factory manager’s salary 25,000 Sales commissions 32,000 Factory repairs 13,500 Sales salaries 73,400
Pro-Leather Company is a manufacturer of leather cases for tablets. The following information pertains to operations during the 2020 calendar year Sales Revenue $14,275,000 Direct Factory Labour $3,952,600 Indirect Factory Labour $1,232,250 Total depreciation 1 400,000 Total Utilities 525,000 Distribution and customer service costs 76,800 Insurance on plant and equipment 585,000 Property taxes 3 90,000 Administrative Wages and Salaries 1,076,000 Advertising Expenses 57,700 Sales commission 6% of Sales Revenue Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general and administrative costs. 2 Of the total utilities, 75% relates to the production and 25% relates to general and administrative costs. The property taxes should be shared: 85% production & 15% general & administrative costs The following additional information is also available: Inventory Date:…
Pro-Leather Company is a manufacturer of leather cases for tablets. The following information pertains to operations during the 2020 calendar year Sales Revenue $14,275,000 Direct Factory Labour $3,952,600 Indirect Factory Labour $1,232,250 Total depreciation 1 400,000 Total Utilities 525,000 Distribution and customer service costs 76,800 Insurance on plant and equipment 585,000 Property taxes 3 90,000 Administrative Wages and Salaries 1,076,000 Advertising Expenses 57,700 Sales commission 6% of sales Revenue Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general and administrative costs. 2 Of the total utilities, 75% relates to production and 25% relates to general and administrative costs. The property taxes should be shared: 85% production & 15% general & administrative costs The following additional information is also available: Inventory Date:…
Pro-Leather Company is a manufacturer of leather cases for tablets. The following information pertains to operations during the 2020 calendar year Sales Revenue $14,275,000 Direct Factory Labour $3,952,600 Indirect Factory Labour $1,232,250 Total depreciation 1 400,000 Total Utilities 525,000 Distribution and customer service costs 76,800 Insurance on plant and equipment 585,000 Property taxes 3 90,000 Administrative Wages and Salaries 1,076,000 Advertising Expenses 57,700 Sales commission 6% of sales Revenue Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general and administrative costs. 2 Of the total utilities, 75% relates to the production and 25% relates to general and administrative costs. The property taxes should be shared: 85% production & 15% general & administrative costs The following additional information is also available: Inventory Date:…
Pro-Leather Company is a manufacturer of leather cases for tablets. The following information pertains to operations during the 2020 calendar year Sales Revenue $14,275,000 Direct Factory Labour $3,952,600 Indirect Factory Labour $1,232,250 Total depreciation 1 400,000 Total Utilities 525,000 Distribution and customer service costs 76,800 Insurance on plant and equipment 585,000 Property taxes 3 90,000 Administrative Wages and Salaries 1,076,000 Advertising Expenses 57,700 Sales commission 6% of sales Revenue Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general and administrative costs. 2 Of the total utilities, 75% relates to the production and 25% relates to general and administrative costs. The property taxes should be shared: 85% production & 15% general & administrative costs The following additional information is also available: Inventory Date:…