Administrative salaries $33,000 Depreciation of factory equipment 26,000 Depreci

Question

  Administrative salaries $33,000   Depreciation of factory equipment 26,000   Depreciation of delivery vehicles 9,000   Direct labor 69,000   Factory supplies used 13,000   Finished goods inventory, January 1 58,000   Finished goods inventory, December 31 69,000   Factory insurance 16,500   Interest expense 13,000     Factory utilities 15,000   Factory maintenance 8,500   Raw materials inventory, January 1   9,000   Raw materials inventory, December 31   5,000   Raw material purchases 126,000   Rent on factory building 26,000   Repairs of factory equipment 12,500   Sales commissions 38,500   Goods in process inventory, January 1 4,000   Goods in process inventory, December 31 3,000

Explanation / Answer

Materials = 9000 + 126,000 - 5000 = 130,000 ; Depreciation of factory equipment 26,000 Direct labor 69,000 Factory supplies used 13,000 Factory insurance 16,500 Factory utilities 15,000 Factory maintenance 8,500 Rent on factory building 26,000 Repairs of factory equipment 12,500 Adding all these = $316,500

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