Question

Barry's BarBQue incurred the following costs: $1,400 for ribs, 45 hours of labor to cook the ribs at $10 per hour, $50 for seasoning and sauce, $300 for signs to advertise the ribs, $150 to clean the grill after cooking the ribs, and $100 of administrative costs. How much are total product costs? O $2,350 O $2,050 $1,850 O $2,150

Answer 1

Total product costs = Ribs + Labor

= $1,400 + (45 * $10)

= $1,850

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The answer is Yes No No

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Total product costs = Materials + Factory depreciation + Labor cost of assembly line workers + Factory supplies used + Property taxes of factory

= $120,000 + $60,000 + $95,000 + $8,000 + $20,000

= $303,000

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Work in progress inventory, beginning	$7,100
Cost of direct materials used in production	$27,600
Direct labor cost	$20,000
Total manufacturing overhead	$28,900
Work in progress inventory, ending	($6,800)
Cost of goods manufactured	$76,800

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Work in progress inventory, beginning	$12,000
Cost of direct materials used in production	$81,900
Direct labor cost	$41,000
Total manufacturing overhead	$25,000
Work in progress inventory, ending	($14,200)
Cost of goods manufactured	$145,700