XYZ Company recorded the following information related to their inventory accounts for 2020: January 1, 2020 December 31, 2020 Direct materials 50,000 37,000 Work in process 38,000 41,000 Finished goods 32,000 34,000 The following costs were taken from XYZ Company's accounting records for 2020: Direct materials purchased $129,000 Depreciation, factory equipment 37,000 Sales revenue 590,000 Utilities (60% for factory; 40% for office building) 30,000 Sales commissions

Complete question is:

XYZ Company recorded the following information related to their inventory

accounts for 2020:

                         January 1, 2020        December 31, 2020

Direct materials               37,000                   50,000

Work in process                38,000                   41,000

Finished goods                 22,000                   34,000

The following information was taken from XYZ Company's accounting records

for 2020:

Sales revenue   $630,000

Direct materials purchased       ?

Depreciation, factory equipment     34,000

Prime costs    250,000

Utilities (60% for factory; 40% for office building)     20,000

Sales commissions       ?

Indirect materials     25,000

Depreciation, office equipment     30,000

Rent, factory building     56,000

Net income     10,000

Direct labor       ?

Advertising     75,000

Production supervisor's salary     81,000

Additional information:

1.  Direct labor comprised 35% of the conversion costs for 2020.

2.  The actual overhead cost for 2020 was equal to the overhead applied

   to production. Thus there was no overhead variance for 2020.

A) Calculate XYZ Company's direct labor cost for 2020.

B) Calculate the direct materials purchased by XYZ Company in 2020.

C) Calculate XYZ Company's sales commissions for 2020.

Answer is:

a) Total overhead = 34000+12000+25000+56000+81000 = 208000

Direct labor = 208000*35/65 = 112000

b) Direct material used = 250000-112000 = 138000

Direct material purchase = 138000+50000-37000 = 151000

c) Sales and administrative expense other than sales commission = 113000

Sales commission = 630000-443000-113000-10000 = 64000

Explanation:

2b2t

explanation:

2b2t