You have the data of Al Saad Al-Qahtani Industrial Company, which uses the production order costs system and indirect industrial costs are allocated on the basis of 70% of the cost of direct materials (for the current year and the previous year), and at the end of the year a summary of the production orders for the company appeared as follows (all amounts in riyals):
Command No.
100
101
102
103
104
105
106
107
108
109
Total
Balance first period
8,400
4,600
9,700
2,300
-
-
-
-
-
-
Direct Material Cost
10,400
9,100
6,500
19,400
5,600
7,000
2,800
8,600
14,100
9,000
Direct wage cost
3,600
10,400
7,500
5,600
9,800
4,900
9,800
3,200
10,200
7,200
Incremental (indirect) estimated costs
Total
Completion of this table is required
The balances at the beginning of the period represent the cost of production orders that are still in operation (in production) from the last year. The current period of purchases of materials were as follows:
- Direct material purchases during the period 450,000 riyals.
Indirect material purchases during the period 540,000 riyals.
The actual indirect industrial costs incurred by the company during the current period are as follows:
- Supervisors' wages: 300,000 riyals.
- Indirect tasks and materials: 320,600 riyals.
- Electricity and energy: 63,900 riyals.
- Depreciation of machinery and factory equipment: 40,400 riyals.
- Consumption of factory buildings: 55.700 riyals.
- Factory machinery maintenance: 98,200 riyals.
- Total: ________________ riyals.
- At the end of the period, the following production orders were completed: Order: 101, 102, 104, 105, 109
Also, during the period the following production commands were delivered to customers at a selling price of 220% of production cost:
command: 101, 104, 105.
The following production commands are still in full production warehouse
command: 102, 109.
The orders still in operation at the end of the period were:
command: 100, 103, 106, 107, 1084
- Required:
Complete summary of previous productivity commands.
Performing daily entries for previous operations with determining the allocation differences by increase or decrease and closing the differences in calculating the cost of goods sold.
Copying the control accounts (ledger) and determining the end-of-period balance for each account.
Preparing the income statement and determining the company's net income.