Homework Answers
Solution:
Fixed costs = Advertising + Insurance + Property taxes = $58,000 + $37,000 + $47,000 = $142,000
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Cost Classification for Entertainment Easy PREVIOUS NEX An entertainment company incurred the following costs: labor $42.000,...
Assume that a manufacturing company incurred the following costs: Direct labor $ 90,000 Advertising $ 40,000...
Assume that a manufacturing company incurred the following costs: Direct labor $ 90,000 Advertising $ 40,000 Factory supervision $ 32,000 Sales commissions $ 15,000 Depreciation, office equipment $ 4,000 Indirect materials $ 5,000 Depreciation, factory building $ 20,000 Administrative office salaries $ 1,000 Utilities, factory $ 2,500 Direct materials $ 102,000 Insurance, factory $ 7,000 Property taxes, factory $ 7,000 If the information above pertains to 1,000 units of production, what is its average manufacturing cost per unit?
Cost Classification Loring Company incurred the following costs last year: Costs Amounts Direct materials $211,000 Factory...
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Problem 2-25 Cost Classification and Cost Behavior [LO2-1, LO2-2, LO2-3, LO2-4] The Dorilane Company specializes in...
Problem 2-25 Cost Classification and Cost Behavior [LO2-1, LO2-2, LO2-3, LO2-4] The Dorilane Company specializes in producing a set of wood patio furniture consisting of a table and four chairs. The set enjoys great popularity, and the company has ample orders to keep production going at its full capacity of 4,000 sets per year. Annual cost data at full capacity follow: $ $ Ꮎ Ꮎ Ꮎ Ꮎ Ꮎ Direct labor Advertising Factory supervision Property taxes, factory building Sales commissions Insurance,...
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Problem 2-25 Cost Classification and Cost Behavior L02-1, L02-2, LO2-3, LO2-4) The Dorilane Company specializes in producing a set of wood patio furniture consisting of a table and four chairs. The set enjoys great popularity, and the company has ample orders to keep production going at its full capacity of 4,000 sets per year. Annual cost data at full capacity follow: $90,000 Direct labor Advertising 101,000 71,000 $19,000 $60,000 $ 6,000 Factory supervision Property taxes, factory building Sales commissions Insurance,...
20. Costs other than direct materials cost and direct labor cost incurred in the manufacturing process...
20. Costs other than direct materials cost and direct labor cost incurred in the manufacturing process are classified as a. factory overhead cost b. miscellaneous expense c. product costs d. period cost 21. Which of the following is an example of a factory overhead cost? a. repair and maintenance cost on the administrative building b. factory heating and lighting cost e. insurance premiums on salespersons' automobiles d. president's salary 22. Prime costs are a direct materials and factory overhead b....
Chapter 2 Cost Classification and Cost Behavior Heritage Company manufactures a beautiful bookcase that enjoys widespread...
Chapter 2 Cost Classification and Cost Behavior Heritage Company manufactures a beautiful bookcase that enjoys widespread popularity. The company has a backlog of orders that is large enough to keep production going indefinitely at the plant's full capacity of 4,000 bookcases per year. Annual cost data at full capacity follow: Direct materials used (wood and glass) Administrative office salaries Factory supervision Sales commissions Depreciation, factory building Depreciation, administrative office equipment Factory labor (cutting and assembly) Advertising Insurance, factory Property taxes,...
Toledo Toy Company incurred the following costs during 20x4. The company sold all of its products manufactured during the year.
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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 We were unable to transcribe this imagePharmco incurred the following costs while manufacturing its product: Materials used in production, $120,000;...
Water Technology, Inc. Incurred the following costs during 20xt. The company sold all f ts products...
Water Technology, Inc. Incurred the following costs during 20xt. The company sold all f ts products manufactured during the year Direct material Direct labor $5,000,000 2,400,000 Manufacturing overheadr Ueilities (primarily electricity) 120,000 220,000 150,000 400,000 230,000 Depreciation on plant and equipment Insurance Supervisory salaries Property taxes Selling costs Advertising Sales commissions Administrative costs Salaries of top management and staft 165,000 80,000 Office supplies Depreciation on building and equipment 372,000 45,000 80,000 to a slowdown in the economy. Prospects for 20x2...
Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance,...
Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) $400,00e Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 15,00e 130,e00 8,000 240,000 10,000 $473,00e $ 20,00e 30,000 $ 40,000e $ 70,00e The company uses a predetermined overhead rate of $25 per machine-hour to apply...
Problem 2-25 Cost Classification and Cost Behavior [LO2-1, LO2-2, LO2-3, LO2-4] The Dorilane Company specializes in producing a set of wood patio furniture consisting of a table and four chairs. The set enjoys great popularity, and the company has ample orders to keep production going at its full capacity of 4,000 sets per year. Annual cost data at full capacity follow: $ $ Ꮎ Ꮎ Ꮎ Ꮎ Ꮎ Direct labor Advertising Factory supervision Property taxes, factory building Sales commissions Insurance,...
Problem 2-25 Cost Classification and Cost Behavior L02-1, L02-2, LO2-3, LO2-4) The Dorilane Company specializes in producing a set of wood patio furniture consisting of a table and four chairs. The set enjoys great popularity, and the company has ample orders to keep production going at its full capacity of 4,000 sets per year. Annual cost data at full capacity follow: $90,000 Direct labor Advertising 101,000 71,000 $19,000 $60,000 $ 6,000 Factory supervision Property taxes, factory building Sales commissions Insurance,...
20. Costs other than direct materials cost and direct labor cost incurred in the manufacturing process are classified as a. factory overhead cost b. miscellaneous expense c. product costs d. period cost 21. Which of the following is an example of a factory overhead cost? a. repair and maintenance cost on the administrative building b. factory heating and lighting cost e. insurance premiums on salespersons' automobiles d. president's salary 22. Prime costs are a direct materials and factory overhead b....
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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 We were unable to transcribe this imagePharmco incurred the following costs while manufacturing its product: Materials used in production, $120,000;...
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