Reference no: EM131918513

Question 1 - The ObiWan Company reported the following data related to its manufacturing operations during year y1 to y2 (ObiWan has a December 31st year end)

	Jan 1, Y2	Jan 1, Y1
Raw Materials	7,300	5,500
Work in Process	25,700	23,400
Finished Goods	41,600	48,500
Cost Incurred:
Raw Material Purchased	83,000
Factory direct labor	153,000
Factor Suppliers	36,000
Factory depreciation	93,000
President's Salary	103,000
Sales force salaries	56,000
Sales force expenses	5,200
Heat, Light and power	12,000
(75% applies to manufacturing)
Insurance	36,000
(60% applies to manufacturing)

Calculate:

a: The cost of materials requisitioned for production during the year(between y1 and y2)

b: The cost of the units that were completed and transferred to finished goods during the year

c: The cost of goods sold during the year

Question 2 - The Chewbaca Company reported the folowing data related to its manufacturing operations between Year1 and Year2 (Chewbaca has a December 31st Fiscal year end)

	Jan 1, Y2	Jan 1, Y1
Raw Materials	10,200	3,800
Work in Process	22,600	18,500
Finished Goods	38,750	38,105
Cost Incurred:
Raw Material Purchased	88,700
Factory direct labor	178,960
Factor Suppliers	43,650
Factory depreciation	105,000
President's Salary	110,000
Sales force salaries	88,000
Sales force expenses	8,700
Heat, Light and power	16,000
Factory Insurance	29,000

Calculate:

a: The cost of materials requisitioned for production during the year.

b: The cost of the units that were completed and transferred to finished goods during the year.

c: The cost of goods sold during the year.