Costs of a company: 1. total material costs is 5,000. 2. Total labor costs are $100,000...
Costs of a company:
1. total material costs is 5,000.
2. Total labor costs are $100,000 for the year.
3. Total depreciation on building and equipment are $35,000 per year.
4. Total Property taxes on building are $10,000 per year.
5. Total Advertising costs are $20,000 per year.
6. Total sales commissions related to sales are $150,000 for the year.
7. Total salaries for maintenance employees are $50,000 per year.
8. Salary for manager is $90,000 a year.
9. Cost of product shipping is $8 per item to ship. During the year, the company delivers 8,000 items.
Company has no inventory at the start of the year.
Calculate:
Direct Materials Costs, Direct Labor Costs, Manufacturing Overhead Costs, Period Costs, Total Capitalized costs for the year, and Total expensed costs.
Homework Answers
1. DIRECT MATEEIAL COST = $5000
2. DIRECT LABOR COST =$100000
3. MANUFACTURING OVERHEAD
| Depreciation on building and equipment | 35000 |
| Property tax on building | 10000 |
| Salary for maintenance employees | 50000 |
| Manufacturing overhead | $95000 |
4. Period Costs
| Advertising costs | 20000 |
| Sales commission | 150000 |
| Salary for manager | 90000 |
| Product shipping | 8000*8=64000 |
| Period costs | $324000 |
5. Total Capitalized costs
| Direct Material | 5000 |
| Direct Labor | 100000 |
| Total capitalized costs | $105000 |
6. Total Expensed costs
| Depreciation | 35000 |
| Property taxes | 10000 |
| Advertising | 20000 |
| Sales commission | 150000 |
| Salary for maintenance employees | 50000 |
| Salary for manager | 90000 |
| Product shipping | 64000 |
| Total expensed costs | $419000 |
Add Answer to:
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