Exercise 14-05
Gala Company is a manufacturer of laptop computers. Various
costs and expenses associated with its operations are as
follows.
The company intends to classify these costs and expenses into the
following categories: (a) direct materials, (b) direct labor, (c)
manufacturing overhead, and (d) period costs.
For each item, indicate the cost category to which it
belongs.
Item |
Category |
|||
---|---|---|---|---|
1. | Property taxes on the factory building. | select a cost category
|
||
2. | Production superintendents’ salaries. | select a cost category
|
||
3. | Memory boards and chips used in assembling computers. | select a cost category
|
||
4. | Depreciation on the factory equipment. | select a cost category
|
||
5. | Salaries for assembly-line quality control inspectors. | select a cost category
|
||
6. | Sales commissions paid to sell laptop computers. | select a cost category
|
||
7. | Electrical components used in assembling computers. | select a cost category
|
||
8. | Wages of workers assembling laptop computers. | select a cost category
|
||
9. | Soldering materials used on factory assembly lines. | select a cost category
|
||
10. | Salaries for the night security guards for the factory building. | select a cost category
|
Solution
Item | Category | |
1 | Property taxes on the factory building. | Manufacturing Overhead |
2 | Production superintendents’ salaries. | Manufacturing Overhead |
3 | Memory boards and chips used in assembling computers. | Direct material |
4 | Depreciation on the factory equipment. | Manufacturing Overhead |
5 | Salaries for assembly-line quality control inspectors. | Manufacturing Overhead |
6 | Sales commissions paid to sell laptop computers. | Period cost |
7 | Electrical components used in assembling computers. | Manufacturing Overhead |
8 | Wages of workers assembling laptop computers. | Direct labor |
9 | Soldering materials used on factory assembly lines. | Manufacturing Overhead |
10 | Salaries for the night security guards for the factory building. | Manufacturing Overhead |
Exercise 14-05 Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with...
Gala Company is a manufacturer of laptop computers. Various
costs and expenses associated with its operations are as
follows.
The company intends to classify these costs and expenses into the
following categories: (a) direct materials, (b) direct labor, (c)
manufacturing overhead, and (d) period costs.
For each item, indicate the cost category to which it belongs.
Item
Category
1.
Property taxes on the factory building.
Period Costs Direct Materials Direct Labor Manufacturing Overhead
Direct Materials and Manufacturing Overhead
2.
Production...
Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations are as follows. The company intends to classify these costs and expenses into the following categories: (a) direct materials, (b) direct labor, (c) manufacturing overhead, and (d) period costs. For each item, indicate the cost category to which it belongs. Item Category Property taxes on the factory building. rini Production superintendents’ salaries. mi Memory boards and chips used in assembling computers. Depreciation on the...
Exercise 10-5 Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations we as follows. The company intends to asily these costs and expenses into the following categories: (a) direct materias (1) direct labor. (c) manufacturing overhead, and (d) period costs For each item, indicate the cost category to which it belongs. Them Category 1. Property taxes on the factory building Production superintendents' salaries 3. Memory boards and chips used in assembling computers, Direct...
help please
Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations are as follows The company intends to classify these costs and expenses into the following categories: (a) direct materials. (b) direct labore manufacturing overhead, and (d) period costs. For each item, indicate the cost category to which it belongs. Item Category 1. Property taxes on the factory building. Production superintendents' salaries. Memory boards and chips used in assembling computers. Depreciation on the...
Exercise 14-05 Your answer is partially correct. Try again. Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations are as follows. The company intends to classify these costs and expenses into the following categories: (a) direct materials, (b) direct labor, (c) manufacturing overhead, and (d) period costs. For each item, indicate the cost category to which it belongs. Item Category 1. Property taxes on the factory building. 2. Production superintendents' salaries. 3. Memory...
Accounting E1.4 (LO2), AP Knight Company reports the following costs and expenses in May. $ 15,500 $69,100 46,400 Factory utilities Depreciation on factory equipment Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary 12,650 3,800 48,900 80,800 137.600 8,000 Direct labor Sales salaries Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used 2,500 1,300 2.000 15,000 2,640 Instructions From the information, determine the total amount of: a. Manufacturing...
E19-5 Ikerd Company is a manufacturer of personal computers.
Various costs and expenses associated with its operations are as
follows
24/35 7,500 Delivery expense Property taxes on store Labor costs of assembly-line workers Factory supplies used 21,000 35,000 50,000 110,000 Sales commissions Salaries paid to sales clerks 13,000 (a) Identify each of the above costs as direct materials, direct labor, manufacturing over head, or period costs (b) Explain the basic difference in accounting for product costs and period costs. E19-4...
Instructions (a) Identify each of the above costs as direct materials, direct labor, manufactu head, or period costs. (b) Explain the basic difference in accounting for product costs and period costs. ect labor, manufacturing over- $69,100 46,400 E14.4 Knight Company reports the following costs and expenses in May. Factory utilities $ 15,500 Direct labor Depreciation on factory Sales salaries equipment 12,650 Property taxes on factory Depreciation on delivery trucks 3,800 building Indirect factory labor 48,900 Repairs to office equipment Indirect...
all answers are correct I just need gross profit calculated For the year ended December 31, 2020, the job cost sheets of Cinta Company contained the following data. Job Number Explanation Direct Materials Direct Labor Manufacturing Overhead Total Costs 7640 Balance 1/1 $25,500 $24,480 $29,376 $79,356 Current year’s costs 30,600 36,720 44,064 111,384 7641 Balance 1/1 11,220 18,360 22,032 51,612 Current year’s costs 43,860 48,960 58,752 151,572 7642 Current year’s costs 59,160 56,100 67,320 182,580 Other data: 1. Raw materials...
Problem 15-02A
For the year ended December 31, 2020, the job cost sheets of Cinta
Company contained the following data.
Job
Number
Explanation
Direct
Materials
Direct
Labor
Manufacturing
Overhead
Total
Costs
7640
Balance 1/1
$26,500
$25,440
$30,528
$82,468
Current year’s costs
31,800
38,160
45,792
115,752
7641
Balance 1/1
11,660
19,080
22,896
53,636
Current year’s costs
45,580
50,880
61,056
157,516
7642
Current year’s costs
61,480
58,300
69,960
189,740
Other data:
1.
Raw materials inventory totaled $15,900 on January 1. During
the...