The following cost data for the year just ended pertaning to Sentiments inc | ||||
Amnt($) | ||||
Direct Material | 23,00,000 | |||
Direct Labour wages | 4,65,000 | |||
Fringe benefits for Direct Labour | ||||
1,03,000 | 5,68,000 | |||
Prime cost | 28,68,000 | |||
Manufacturing Overhead | Amnt($) | |||
Indirect labour Wages | 1,42,000 | |||
Depreciaiton of factory building | 1,16,000 | |||
Service department cost | 1,00,000 | |||
Total Overhead premium | 55,000 | |||
Production Supervisor salary | 47,000 | |||
Cost of idle time -Production employees | 40,000 | |||
Indirect labour Fringe benefit | 30,000 | |||
Fringe benefits for Production Supervisor | 10,000 | |||
Manufacturing Overhead Cost | 5,40,000 | |||
Conversion cost | Amnt($) | |||
Direct labour cost ( as above) | 5,68,000 | |||
Add = Manufacturing OH | 5,40,000 | |||
Conversion cost Total | 11,08,000 | |||
Production cost | Amnt($) | |||
Prime cost as above | 28,68,000 | |||
Add = Manufacturing OH | 5,40,000 | |||
Production cost Total | 34,08,000 | |||
Period cost | Amnt($) | |||
administration cost | 1,50,000 | |||
Adverising expenses | 97,000 | |||
Rental of office space for Sales personnel | 15,000 | |||
Product Promotion cost | 10,000 | |||
Sales commission | 5,000 | |||
Period cost Total | 2,77,000 |
I continue to get $309,000 for period costs but that isn't correct. the only cost i...
Required information (The following information applies to the questions displayed below.) The following cost data for the year just ended pertain to Sentiments, Inc., a greeting card manufacturer: Direct materia Advertising expense Depreciation on factory building Direct labor: wages Cost of finished goods inventory at year-end Indirect labor wages Production supervisor's salary Service department costs Direct labor: fringe benefits Indirect labor: fringe benefits Fringe benefits for production supervisor Total overtime premiums paid Cost of idle time: production employees Administrative costs...
The following cost data for the year just ended pertain to Sentiments, Inc., a greeting card manufacturer: Direct material $ 2,300,000 Advertising expense 97,000 Depreciation on factory building 115,000 Direct labor: wages 470,000 Cost of finished goods inventory at year-end 115,000 Indirect labor: wages 141,000 Production supervisor’s salary 46,000 Service department costs* 100,000 Direct labor: fringe benefits 105,000 Indirect labor: fringe benefits 32,000 Fringe benefits for production supervisor 10,000 Total overtime premiums paid 55,000 Cost of idle time: production employees§...
Required information [The following information applies to the questions displayed below.] The following cost data for the year just ended pertain to Sentiments, Inc., a greeting card manufacturer: Direct material $ 2,300,000 Advertising expense 99,000 Depreciation on factory building 115,000 Direct labor: wages 540,000 Cost of finished goods inventory at year-end 115,000 Indirect labor: wages 142,000 Production supervisor’s salary 46,000 Service department costs* 100,000 Direct labor: fringe benefits 97,000 Indirect labor: fringe benefits 30,000 Fringe benefits for production supervisor 10,000...
The following cost data for the year just ended pertain to Sentiments, Inc., a greeting card manufacturer:Direct material$2,300,000Advertising expense99,000Depreciation on factory building116,000Direct labor: wages470,000Cost of finished goods inventory at year-end115,000Indirect labor: wages141,000Production supervisor’s salary45,000Service department costs*100,000Direct labor: fringe benefits114,000Indirect labor: fringe benefits30,000Fringe benefits for production supervisor10,000Total overtime premiums paid55,000Cost of idle time: production employees§40,000Administrative costs150,000Rental of office space for sales personnel†15,000Sales commissions5,000Product promotion costs10,000*All services are provided to manufacturing departments.§Cost of idle time is an overhead item; it is not...
Problem 2-42 Cost Terminology (LO 2-2, 2-5, 2-10) [The following information applies to the questions displayed below.] The following cost data for the year just ended pertain to Sentiments, Inc., a greeting card manufacturer: Direct material $ 2,200,000 Advertising expense 98,000 Depreciation on factory building 115,000 Direct labor: wages 550,000 Cost of finished goods inventory at year-end 115,000 Indirect labor: wages 142,000 Production supervisor’s salary 47,000 Service department costs* 100,000 Direct labor: fringe benefits 117,000 Indirect labor: fringe benefits 30,000...
Problem 2-42 Cost Terminology (LO 2-2, 2-5, 2-10) [The following information applies to the questions displayed below.] The following cost data for the year just ended pertain to Sentiments, Inc., a greeting card manufacturer: Direct material $ 2,200,000 Advertising expense 98,000 Depreciation on factory building 115,000 Direct labor: wages 550,000 Cost of finished goods inventory at year-end 115,000 Indirect labor: wages 142,000 Production supervisor’s salary 47,000 Service department costs* 100,000 Direct labor: fringe benefits 117,000 Indirect labor: fringe benefits 30,000...
2 Direct material Advertising expense Depreciation on factory building Direct labor: wages Cost of finished goods inventory at year-en Indirect labor: wages Production supervisor's sala Service department costs Direct labor: fringe benefits Indirect labor: fringe benefits Fringe benefits for production supervisor Total overtime premiums paid Cost of idle time: production Administrative costs $2,300,800 97,060 116,000 515,000 115,000 2.5 points 42 47,800 100,a00 95,900 31,000 9,000 55,000 40,000 50,000 15,000 5,000 10,000 ees Rental of office space for sales personnel Sales...
The following costs were incurred by Greetings R Us, a firm manufacturing greetings cards for the last year: Service Department costs (All of the services are provided to manufacturing function) Fringe benefits to Direct laborers in manufacturing function Fringe benefits to Indirect laborers in manufacturing function Fringe benefits for production supervisors Total overtime premiums paid Cost of idle time: Production employees Administrative costs Rental of office space for sales personnel Sales commissions Product promotion costs Direct material Advertising expenses Depreciation...
Wachowski Company reported the following cost data for the year 2017. Factory maintenance costs $90,000 Direct labor, wages 351,000 Direct labor, health insurance 31,000 Indirect labor, health insurance 16,000 Health insurance for production supervisor 6,500 Administrative costs 55,000 Rental of office space for administrative staff 17,500 Sales commissions 52,500 Direct material 1,240,000 Indirect materials 633,000 Advertising expense 39,000 Depreciation on factory building 63,000 Indirect labor, wages 80,000 Production supervisor's salary 31,000 Use the above cost data to complete the table...
The following cost data pertains to ABC Company for the month of December: Direct material used in production Depreciation for factory building Direct labor wages Cost of finished goods, inventory at year-end Indirect labor - wages Production supervisor's salary Product promotion costs Service department costs for manufacturing Sales commissions Administrative costs Rental of sales office space $ 210,000 11,500 58,000 11,500 17,000 5,400 9,900 10,000 500 15,000 1,500 a) b) c) d) e) Compute the total prime costs. Compute the...