Furniture Co manufactures furniture and incurred the following costs during January:Timber$    25,000Paint$      5,000Wages—assembly personnel DL$    20,000Wages—factory supervisor DL$      3,500Factory cleaner's wages MOH$      2,000Sales commissions$    10,000Administrative staff salaries$      4,000Depreciation—factory equipment MOH$      3,000Depreciation—sales office equipment$      1,000Utilities, insurance—factory MOH$      6,000Utilities, insurance—sales office$      2,000Advertising$      8,000Total costs$    89,500The conversion costs are:

A furniture company using accrual accounting purchased 20 sofas in November 2011. In December 2011, 8 of the 20 sofas were sold to customers. The customers all signed contracts agreeing to pay half the amount owed in February 2012 and the remaining half in March 2012. At the time of sale, the company was reasonably sure the customers would pay the amount owed.The furniture company pays its salespeople a commission on each sofa sold, with commissions for December 2011 sales paid in January 2012.The furniture company paid $3,000 for advertising that ran in the local newspaper in November 2011.In which month should advertising costs be expensed? February 2012 January 2012 December 2011 November 2011

Craftsman Ltd purchases wooden planks at R250 each, where after an employee, normally takes two hours to make a chair from this wood. Employees are compensated at an hourly rate of R200. The employee, however, engaged in a strike in an attempt to secure better wages and therefore took five hours to complete a chair. During the manufacturing of the chair, 25 nails at a cost of R3 each, is needed.REQUIRED:The cost of inventory, for one chair, will be?

Living in Nature manufactures wooden furniture (such as chairs, desks and coffeeables) in a factory. lf the cost obiect is the factory, what costs would beconsidered direct? a.Salary of the worker who glues the legs to the chair seat b.Salary of the manufacturing supervisor c. Insurance on the factory d. Rent on the factory e. All of the above

Woodland Ltd is a home furniture retailer and wholesaler selling affordable home furniture. During the year ended 30 June, it made the following purchases of home office desks:Date # Units Price ($)July 250 30September 300 42November 350 50April 380 30As at 1 July, Woodland Ltd had 25 desks in inventory, which were costed at $450 per unit. As at 30 June, an inventory count revealed 29 desks in inventory.RequiredCompare the value of the desks on hand as at 30 June to be included in the inventory balance on the statement of financial position, under the following cost flow assumptions:i)FIFOii)Weighted-average

Assume Logan agrees on September 5 to sell 100 units of wooden chairs to a furniture shop, to be delivered on December 10 for $50 per unit. However, Logan refuses to deliver the contracted chairs because the market price on December 10 was $80 per unit. If true, the furniture shop can recover _______ in damages from Logan.Multiple choice question.$1000$3000$50$80