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Selected data concerning the past year’s operations of the Altek Manufacturing...

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barnold148 | Student, Undergraduate | eNotes Newbie

Posted October 21, 2013 at 11:14 PM via web

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Selected data concerning the past year’s operations of the Altek Manufacturing Company are as follows:

Inventories ($) Beginning Ending
Raw materials   71,000     81,000
Work in Process 80,000   30,000
Finished Goods 90,000    110,000

Other Data:
Direct Materials Used ---------------------------------------- $ 326,000
Total Manufacturing Costs Charged to
production during the year (includes
direct material, direct labour, and
manufacturing overhead applied at a
rate of 60% of direct-labour cost) -----------------------$ 686,000
Cost of Goods Available for Sale -----------------------$ 826,000
Selling and Administration Expenses ------------------------ $ 31,500

Required:
i. What was the cost of raw materials purchased during the year?
ii. What was the direct-labour cost charged to production during the year?
iii. What was the cost of goods manufactured during the year?
iv What was the cost of goods sold during the year?

1 Answer | Add Yours

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Ineedhelp222222 | (Level 1) eNoter

Posted October 24, 2013 at 6:02 PM (Answer #1)

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Your answer is $436.99.......

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