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Knight Company reports the following costs and expenses in May. Factory utilities $15,600 Direct labor $69,400...

Knight Company reports the following costs and expenses in May.
Factory utilities $15,600 Direct labor $69,400
Depreciation on factory equipment 13,050 Sales salaries 49,900
Depreciation on delivery trucks 4,000 Property taxes on factory building 3,000
Indirect factory labor 49,300 Repairs to office equipment 2,200
Indirect materials 84,200 Factory repairs 2,960
Direct materials used 139,700 Advertising 15,600
Factory manager’s salary 8,700 Office supplies used 3,000

From the information:
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Determine the total amount of manufacturing overhead.
Manufacturing overhead $

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Determine the total amount of product costs.
Product costs $

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Determine the total amount of period costs.
Period costs $

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Answer #1
Manufacturing Overheads:
Factory Utilities $15,600
Depreciation on Factory Equipment $13,050
Indirect Factory Labor $4,000
Indirect Materials $84,200
Factory Manager's Salary $8,700
Property Taxes on Factory Building $3,000
Factory Repairs $2,960
Total Manufacturing Overheads $131,510
Product Costs:
Direct Materials $139,700
Direct Labor $69,400
Manufacturing Overheads:
Factory Utilities $15,600
Depreciation on Factory Equipment $13,050
Indirect Factory Labor $4,000
Indirect Materials $84,200
Factory Manager's Salary $8,700
Property Taxes on Factory Building $3,000
Factory Repairs $2,960
Total Manufacturing Overheads $131,510
Total Product Costs $340,610
Period Costs:
Depreciation on Delivery Trucks $4,000
Sales Salaries $49,900
Repairs to Office Equipment $2,200
Advertising $15,600
Office Supplies Used $3,000
Total Period Costs $74,700
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