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Flood distroy it's accounting records and inventroy,




Power Switch Inc, had a flood distroy it's accounting records and inventroy;Numbers Given;1st quarter materials purchased: $476,000;direct labor: $505,000, Manfacturing overhead:$245,000;Total Maufacturing costs to account for: $1,425,000;Cost of goods available for sale: $1,340,000;Sales for the period: $1.7 million, gross profit of 30%;Direct matrials: $113,000;Work In Process $229,000;Finished Goods:$154,000;***Requirements;A) Determine ending inventories of Direct Materials, Work In Process, and Finished Good;B) Draft an insurance claim letter for the controller,seeking reimbursment for the damage to invemtory. PowerSwitch's insurance represenative is Gayr Ogleby, at Industrial Co., 1122 Main St, Hartford, Ct 06268;Policy # 3454340-23;Powerswitch address: 5 Research Triangle Way, Raliegh, NC, 27698;PS. I have attached my excel spread sheet. I tried to d othe problem myself but have been stuck on some of the numbers and have no idea how to do the letter.;Attachment Preview;Book1.xlsx Download Attachment;Direct Materials Inventroy;Beginning Inventroy;$864,000;+ Purchases;$476,000;= Direct Materials available for Use;- Ending Inventory;= Direct Materials Used;Beginning Work in Process Inventory;Add:... Show more


Paper#26616 | Written in 18-Jul-2015

Price : $37