Homework Answers
Calculate period cost
| R&D Costs | 150000 |
| Marketing cost | 700000 |
| Administrative expenses | 800000 |
| Total period cost | 1650000 |
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The following information pertains to the Nevada manufacturing Corporation for 2019: Direct materials $810,000 Direct manufacturing...
Skolnick Corporation has provided the following information: Cost per Period Direct materials Direct labor Variable manufacturing...
Skolnick Corporation has provided the following information: Cost per Period Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost per Unit $5.90 $ 4.10 $ 2.20 $152,000 $ 1.40 $ 0.30 $ 43,700 Required: a. If 9,500 units are produced, what is the total amount of direct manufacturing cost incurred? (Do not round intermediate calculations.) b. If 9,500 units are produced, what is the total amount of indirect...
Kesterson Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing...
Kesterson Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost Cost per per Period Unit $6.40 $3.50 $1.35 $18,900 $1.50 $0.80 $ 6,300 if 8,000 units are produced, the total amount of indirect manufacturing cost incurred is closest to:
Kesterson Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing...
Kesterson Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost Cost per per Period Unit $7.00 $3.90 $1.40 $13,200 $1.80 $0.80 $ 6,600 If 5,500 units are produced, the total amount of indirect manufacturing cost incurred is closest to: Multiple Choice O $25,300 O $20,900 $13,200 o $7,700
Learned Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing...
Learned Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales comissions Variable administrative expense Fixed selling and administrative expense Cost per cost per Unit Period $6.20 $ 4.20 $ 1.80 $32,000 $ 0.62 $8.50 $11,200 Required: a. For financial reporting purposes, what is the total amount of product costs incurred to make 8,000 units? b. For financial reporting purposes, what is the total amount of period costs incurred to sell 8,000 units?...
Skolnick Corporation has provided the following information: Cost per Unit Cost per Period Direct materials Direct...
Skolnick Corporation has provided the following information: Cost per Unit Cost per Period Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense s 4.70 $ 1.80 $126,000 1.40 s 0.60 s 39,600 Required: a. If 9,000 units are produced, what is the total amount of direct manufacturing cost incurred? (Do not round intermedi calculations.) b. If 9,000 units are produced, what is the total amount of indirect manufacturing costs...
Distinguish between inventoriable costs and period costs. O A. Inventoriable costs include direct manufacturing materials and...
Distinguish between inventoriable costs and period costs. O A. Inventoriable costs include direct manufacturing materials and direct manufacturing labor costs that are capitalized into inventory and remain on the balance sheet until sold. Period costs include indirect manufacturing (or manufacturing overhead) costs and are expensed as incurred through the cost of goods sold account. B. Inventoriable costs include material costs and are capitalized as assets to the company until the items are sold. Period costs include labor and overhead costs...
Exercise 5 At the beginning of 2019, Onyx Manufacturing Inc. had the following account balances: Finished Goods I...
Exercise 5 At the beginning of 2019, Onyx Manufacturing Inc. had the following account balances: Finished Goods Inventory $12,400 $12,500 $15,000 Work in Progress Materials The following information refers to transactions occurred in 2019: Purchase of materials $164,000 $68,500 $124,000 $21,500 Direct labor incurred: Direct materials Manufacturing overhead: depreciation MOH: Indirect labor $88,000 $46,000 MOH: Indirect materials $340,000 $440,000 Jobs completed with cost of Jobs sold for total revenue of: $345,000 Jobs sold with cost of: Manufacturing overhead allocated to...
Glew Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing...
Glew Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost Cost per per Unit Period $6.00 $3.35 $1.75 $8,800 $1.00 $0.40 $4,000 For financial reporting purposes, the total amount of product costs incurred to make 4.000 units is closest to: Multiple Choice $57.200 $44,400 ( $8.800 $53.200
La Sim Manufacturing Company provided the following information for the year 2019 Inventories Direct Materials Work-in-Process...
La Sim Manufacturing Company provided the following information for the year 2019 Inventories Direct Materials Work-in-Process Finished Goods 31/12/2018 31/12/2019 $84,000 $60,000 26,000 54,000 94,000 89.000 Other information: Sales Revenue Raw materials purchased Direct labor Indirect materials Plant supervisor's salary Office cleaner's wages Depreciation on factory plant & equipment Plant utilities Special Design Cost Insurance Office Utilities Depreciation on delivery truck Administrative salaries Salesmen commission Advertising 1.998,000 360,000 470,000 60,000 49,000 8,000 89,000 130,000 25,700 120,000 42,100 18,000 78,000 26,000...
Schwiesow Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing...
Schwiesow Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost Cost per per Period Unit $7.75 $3.70 $1.35 $12,500 $1.00 $0.60 $ 6,300 If 4,000 units are produced, the total amount of manufacturing overhead cost is closest to: Multiple Choice $11,500 $24,200 $13,900 $17,900
Skolnick Corporation has provided the following information: Cost per Period Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost per Unit $5.90 $ 4.10 $ 2.20 $152,000 $ 1.40 $ 0.30 $ 43,700 Required: a. If 9,500 units are produced, what is the total amount of direct manufacturing cost incurred? (Do not round intermediate calculations.) b. If 9,500 units are produced, what is the total amount of indirect...
Kesterson Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost Cost per per Period Unit $6.40 $3.50 $1.35 $18,900 $1.50 $0.80 $ 6,300 if 8,000 units are produced, the total amount of indirect manufacturing cost incurred is closest to:
Kesterson Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost Cost per per Period Unit $7.00 $3.90 $1.40 $13,200 $1.80 $0.80 $ 6,600 If 5,500 units are produced, the total amount of indirect manufacturing cost incurred is closest to: Multiple Choice O $25,300 O $20,900 $13,200 o $7,700
Learned Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales comissions Variable administrative expense Fixed selling and administrative expense Cost per cost per Unit Period $6.20 $ 4.20 $ 1.80 $32,000 $ 0.62 $8.50 $11,200 Required: a. For financial reporting purposes, what is the total amount of product costs incurred to make 8,000 units? b. For financial reporting purposes, what is the total amount of period costs incurred to sell 8,000 units?...
Skolnick Corporation has provided the following information: Cost per Unit Cost per Period Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense s 4.70 $ 1.80 $126,000 1.40 s 0.60 s 39,600 Required: a. If 9,000 units are produced, what is the total amount of direct manufacturing cost incurred? (Do not round intermedi calculations.) b. If 9,000 units are produced, what is the total amount of indirect manufacturing costs...
Distinguish between inventoriable costs and period costs. O A. Inventoriable costs include direct manufacturing materials and direct manufacturing labor costs that are capitalized into inventory and remain on the balance sheet until sold. Period costs include indirect manufacturing (or manufacturing overhead) costs and are expensed as incurred through the cost of goods sold account. B. Inventoriable costs include material costs and are capitalized as assets to the company until the items are sold. Period costs include labor and overhead costs...
Exercise 5 At the beginning of 2019, Onyx Manufacturing Inc. had the following account balances: Finished Goods Inventory $12,400 $12,500 $15,000 Work in Progress Materials The following information refers to transactions occurred in 2019: Purchase of materials $164,000 $68,500 $124,000 $21,500 Direct labor incurred: Direct materials Manufacturing overhead: depreciation MOH: Indirect labor $88,000 $46,000 MOH: Indirect materials $340,000 $440,000 Jobs completed with cost of Jobs sold for total revenue of: $345,000 Jobs sold with cost of: Manufacturing overhead allocated to...
Glew Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost Cost per per Unit Period $6.00 $3.35 $1.75 $8,800 $1.00 $0.40 $4,000 For financial reporting purposes, the total amount of product costs incurred to make 4.000 units is closest to: Multiple Choice $57.200 $44,400 ( $8.800 $53.200
La Sim Manufacturing Company provided the following information for the year 2019 Inventories Direct Materials Work-in-Process Finished Goods 31/12/2018 31/12/2019 $84,000 $60,000 26,000 54,000 94,000 89.000 Other information: Sales Revenue Raw materials purchased Direct labor Indirect materials Plant supervisor's salary Office cleaner's wages Depreciation on factory plant & equipment Plant utilities Special Design Cost Insurance Office Utilities Depreciation on delivery truck Administrative salaries Salesmen commission Advertising 1.998,000 360,000 470,000 60,000 49,000 8,000 89,000 130,000 25,700 120,000 42,100 18,000 78,000 26,000...
Schwiesow Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost Cost per per Period Unit $7.75 $3.70 $1.35 $12,500 $1.00 $0.60 $ 6,300 If 4,000 units are produced, the total amount of manufacturing overhead cost is closest to: Multiple Choice $11,500 $24,200 $13,900 $17,900
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