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ABC Company recorded the following information related to their inventory accounts for 2007:
January 1, 2007 December 31, 2007
Direct materials ? 37,000
Work in process 38,000 41,000
Finished goods 22,000 35,000
ABC Company's accounting records for 2007 indicated the following costs had been incurred:
Direct materials purchased ................... $222,000
Depreciation, factory equipment .............. ?
Direct labor ................................. ?
Utilities..................................... ?
Sales commissions............................. 69,000
Indirect materials............................ 31,000
Depreciation, office equipment ............... 14,000
Production supervisor's salary ............... 74,000
Advertising................................... 52,000
Additional Information:
1. 60% of the utilities relate to the factory while 40% of the utilities relate to the
general office building
2. Sales revenue for 2007 totaled $785,000; cost of goods manufactured was $438,000;
and net income amounted to $213,000
3. There was no overhead variance (i.e., actual overhead = applied overhead)
find out the total cost of utilties incurred by ABC Company during 2007. Do not use

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M946512

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