The Following Selected Account Balances for the Year Ended December

question 35

Essay

The following selected account balances for the year ended December 31 are provided for Amita Company:
$\begin{array}{|l|r|}\hline \text { Purchases of raw materials } & \$ 260,000 \\\hline \text { Direct labour } & 65,000 \\\hline \text { Maintenance, factory } & 74,000 \\\hline \text { Selling and administrative salaries } & 179,000 \\\hline \text { Depreciation, factory equipment } & 110,000 \\\hline \text { Cleaning supplies } & 6,000 \\\hline \text { Sales commissions } & 350,000 \\\hline \text { Utilities, factory building } & 52,000 \\\hline \text { Rent, factory } & 90,000 \\\hline \text { Depreciation, sales equipment } & 80,000 \\\hline \text { Insurance, factory equipment } & 8,000 \\\hline \text { Advertising expense } & 300,000 \\\hline\end{array}$
In addition,you have the following information about inventories during the year:
$\begin{array}{|l|l|}\hline \text { Increase in raw materials } & \$ 10,000 \\\hline \text { Decrease in work in process } & \$ 15,000 \\\hline \text { Decrease in finished goods } & \$ 30,000 \\\hline\end{array}$
Cleaning supplies are in the factory.
Assume the company uses FIFO.
Required:
(a.)Calculate the cost of goods manufactured.
(b.)Calculate the cost of goods sold.

Identify and apply strategies for responding to audience queries and managing Q&A sessions.

Recognize the importance of posture and physical presence in conveying a message effectively.

Distinguish between different types of presentation aids and their impact on audience comprehension.

Comprehend the role of vocal delivery aspects (articulation, pitch, dialect) in effective communication.

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Definitions:

Illogical Elements

Illogical elements refer to components or aspects within a context that do not follow logical reasoning, often leading to confusion or errors in understanding.

Everyday Events

Common occurrences or routines that happen regularly in daily life.

Familiar People

Individuals that one recognizes and knows well, often through personal or regular interactions.

REM Sleep Dreams

REM sleep dreams occur during the Rapid Eye Movement phase of sleep, characterized by vivid dreams due to heightened brain activity.