![Exercise 2-9 Cost Terminology for Manufacturers [LO2-2, LO2-3] Arden Company reported the following costs and expenses for the most recent month: Direct materials Direct labor Manufacturing overhead Selling expenses Administrative expenses $85,000 $47,000 $24,000 $27,000 $40,000 Required: 1. What is the total amount of product costs? Total product costs 2. What is the total amount of period costs? Total period costs](http://img.homeworklib.com/questions/42523280-74b9-11ea-bfed-cb80762e1262.png?x-oss-process=image/resize,w_560)
Homework Answers
Add Answer to:
Exercise 2-9 Cost Terminology for Manufacturers [LO2-2, LO2-3] Arden Company reported the following costs and expenses...
Arden Company reported the following costs and expenses for the most recent month: Direct materials Direct...
Arden Company reported the following costs and expenses for the most recent month: Direct materials Direct labor Manufacturing overhead Selling expenses Administrative expenses 79,000 $ 41,000 $ 19,000 $22,000 34,000 Required: 1. What is the total amount of product costs? Total product costs 2. What is the total amount of period costs? Total period costs 3. What is the total amount of conversion costs? Total conversion costs 4. What is the total amount of prime costs? Total prime costs
Exercise 1: Arden Company reported the following costs and expenses for the most recent month Amount...
Exercise 1: Arden Company reported the following costs and expenses for the most recent month Amount Per Unit $6.00 $3.50 $1.50 $400 $3.00 $2.00 $0.50 Direct materials Direct labor Variable manufacturing overhead Freed manufacturing overhead Freed selling expense. Pred administrative expense Sales commissions Variable administrative expense Required: 1. If the number of units produced and sold is 10,000 units • What is the total amount of product costs? • What is the total amount of period costs? 2 if 8,000...
Exercise A: Product Costs, Period Costs, Prime Costs and Conversion Costs The following costs were taken...
Exercise A: Product Costs, Period Costs, Prime Costs and Conversion Costs The following costs were taken from the Kelly's Company. You are being asked to calculate the product costs, period costs, prime costs, and conversion costs. Cost incurred: I Selling expenses $40,000 Direct labor $100,000 Factory insurance $15,000 Factory depreciation $20,000 Indirect labor $35,000 Direct material $145,000 Administrative expenses $35,000 14,000 Factory utilities Indirect material $10,000
ACCT 21 - Chapter 2: Assignment Exercise A: Product Costs, Period Costs, Prime Costs and Conversion...
ACCT 21 - Chapter 2: Assignment Exercise A: Product Costs, Period Costs, Prime Costs and Conversion Costs The following costs were taken from the Kelly's Company. You are being asked to calculate the product costs, period costs, prime costs, and conversion costs. Cost incurred: Selling expenses $40,000 Direct labor $100,000 Factory insurance $15,000 Factory depreciation $20,000 Indirect labor $35,000 Direct material $145,000 Administrative expenses $35,000 Factory utilities 14,000 Indirect material $10,000
Dozier Company produced and sold 1,000 units during its first month of operations. It reported the...
Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month: $79.000 $ 40,000 $ 19.000 31.089 $ 50,000 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Variable selling expense Fixed selling expense Total selling expense Variable administrative expense Fixed administrative expense Total administrative expense $ 14,000 22.000 $ 36,000 $ 5.000 27,000 $ 32,000 Required: 1. With respect to cost classifications for...
Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month: Direct materials $ 73,000 Direct labor $ 37,000 Variable...
Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month: Direct materials $ 73,000 Direct labor $ 37,000 Variable manufacturing overhead $ 16,600 Fixed manufacturing overhead 29,200 Total manufacturing overhead $ 45,800 Variable selling expense $ 12,800 Fixed selling expense 19,600 Total selling expense $ 32,400 Variable administrative expense $ 4,400 Fixed administrative expense 25,800 Total administrative expense $ 30,200 Required: 1. With respect to cost classifications for preparing...
Problem 2-42 Cost Terminology (LO 2-2, 2-5, 2-10) [The following information applies to the questions displayed...
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...
Exercise 2-15 Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2-2, LO2-3, LO2-4] [The following...
Exercise 2-15 Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2-2, LO2-3, LO2-4] [The following information applies to the questions displayed below.] Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication. The company provided the following estimates at the beginning of the year: Molding Fabrication Total Machine-hours 30,000 40,000 70,000 Fixed manufacturing overhead costs $ 760,000 $ 210,000 $ 970,000 Variable manufacturing overhead cost per machine-hour $ 5.30 $ 5.30 During the...
Exercise 2-2 (Algo) Apply Overhead Cost to Jobs (LO2-2) Luthan Company uses a plantwide predetermined overhead...
Exercise 2-2 (Algo) Apply Overhead Cost to Jobs (LO2-2) Luthan Company uses a plantwide predetermined overhead rate of $22.70 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $272,400 of total manufacturing overhead cost for an estimated activity level of 12,000 direct labor- hours. The company incurred actual total manufacturing overhead cost of $266,000 and 11,800 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead cost that would have been applied...
Problem 1-24 Different Cost Classifications for Different Purposes (LO1-1, LO1-2, LO1-3, LO1-4, LO1-5) Dozier Company produced...
Problem 1-24 Different Cost Classifications for Different Purposes (LO1-1, LO1-2, LO1-3, LO1-4, LO1-5) Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month: $ 79,000 $ 40.000 $ 19,000 31,000 $ 50,000 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Variable selling expense Fixed selling expense Total selling expense Variable administrative expense Fixed administrative expense Total administrative expense $14.000 22.000 $36,000 $...
Arden Company reported the following costs and expenses for the most recent month: Direct materials Direct labor Manufacturing overhead Selling expenses Administrative expenses 79,000 $ 41,000 $ 19,000 $22,000 34,000 Required: 1. What is the total amount of product costs? Total product costs 2. What is the total amount of period costs? Total period costs 3. What is the total amount of conversion costs? Total conversion costs 4. What is the total amount of prime costs? Total prime costs
Exercise 1: Arden Company reported the following costs and expenses for the most recent month Amount Per Unit $6.00 $3.50 $1.50 $400 $3.00 $2.00 $0.50 Direct materials Direct labor Variable manufacturing overhead Freed manufacturing overhead Freed selling expense. Pred administrative expense Sales commissions Variable administrative expense Required: 1. If the number of units produced and sold is 10,000 units • What is the total amount of product costs? • What is the total amount of period costs? 2 if 8,000...
Exercise A: Product Costs, Period Costs, Prime Costs and Conversion Costs The following costs were taken from the Kelly's Company. You are being asked to calculate the product costs, period costs, prime costs, and conversion costs. Cost incurred: I Selling expenses $40,000 Direct labor $100,000 Factory insurance $15,000 Factory depreciation $20,000 Indirect labor $35,000 Direct material $145,000 Administrative expenses $35,000 14,000 Factory utilities Indirect material $10,000
ACCT 21 - Chapter 2: Assignment Exercise A: Product Costs, Period Costs, Prime Costs and Conversion Costs The following costs were taken from the Kelly's Company. You are being asked to calculate the product costs, period costs, prime costs, and conversion costs. Cost incurred: Selling expenses $40,000 Direct labor $100,000 Factory insurance $15,000 Factory depreciation $20,000 Indirect labor $35,000 Direct material $145,000 Administrative expenses $35,000 Factory utilities 14,000 Indirect material $10,000
Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month: $79.000 $ 40,000 $ 19.000 31.089 $ 50,000 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Variable selling expense Fixed selling expense Total selling expense Variable administrative expense Fixed administrative expense Total administrative expense $ 14,000 22.000 $ 36,000 $ 5.000 27,000 $ 32,000 Required: 1. With respect to cost classifications for...
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...
Exercise 2-2 (Algo) Apply Overhead Cost to Jobs (LO2-2) Luthan Company uses a plantwide predetermined overhead rate of $22.70 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $272,400 of total manufacturing overhead cost for an estimated activity level of 12,000 direct labor- hours. The company incurred actual total manufacturing overhead cost of $266,000 and 11,800 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead cost that would have been applied...
Problem 1-24 Different Cost Classifications for Different Purposes (LO1-1, LO1-2, LO1-3, LO1-4, LO1-5) Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month: $ 79,000 $ 40.000 $ 19,000 31,000 $ 50,000 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Variable selling expense Fixed selling expense Total selling expense Variable administrative expense Fixed administrative expense Total administrative expense $14.000 22.000 $36,000 $...
Most questions answered within 3 hours.
-
An infinite sheet of charge that has a surface charge density of
39 nC/m2 lies in...
asked 45 minutes ago -
After watching the lectures I am still having a hard time
understanding these equations.
1. The...
asked 1 hour ago -
Testing:
H0:μ=56.9
H1:μ<56.9
Your sample consists of 23 subjects, with a mean of 56.3 and
standard...
asked 1 hour ago -
straight wire, labeled as Wire A, lies horizontally on a
tabletop and is oriented to run...
asked 1 hour ago -
For a Chi-Squared Goodness of Fit Test about a uniform
distribution, complete the table.
Round to...
asked 2 hours ago -
Milk of magnesia is only slightly soluble in water. Kc for the
reaction Mg(OHs)(s)>Mg2+(a) + 2OH-1(aq)...
asked 2 hours ago -
Excel's HYPGEOM.DIST function can be used to compute _____.
a. both hypergeometric probabilities and cumulative
hypergeometric...
asked 2 hours ago -
The rocket used for the human lunar missions was the Saturn V
rocket. At liftoff the...
asked 2 hours ago -
1. The East Street Bagel Shop has a weekly demand for 3,500
bagels, which they make...
asked 2 hours ago -
paraphrasing each paragraph
“Where two or more persons knowingly act together unlawfully,
the act of each...
asked 2 hours ago -
The lateral line system in fish is contained which of the
following?
chemoreceptors
photoreceptors
mechanoreceptors
odor...
asked 2 hours ago -
Find the y-intercept of y =-5 x. The y-intercept of y equals
negative 5 x is______...
asked 2 hours ago