Question

Caroline Company reported the following costs and expenses in May: Factory utilities $15,700 Direct labour $90,700...

Caroline Company reported the following costs and expenses in May:
Factory utilities $15,700 Direct labour $90,700
Depreciation on factory equipment 14,450 Sales salaries 53,900
Depreciation on delivery trucks 4,600 Property taxes on factory building 3,490
Indirect factory labour 49,000 Repairs to office equipment 3,300
Indirect materials 82,600 Factory repairs 2,200
Direct materials used 147,600 Advertising 23,200
Factory manager’s salary 22,400 Office supplies used 6,490

From the information above, answer the following.
Determine the total amount of manufacturing overhead.
Manufacturing overhead $
Determine the total amount of product costs.
Product costs $
Determine the total amount of period costs.
Period costs $
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Answer #1
Calculate manufacturing overhead as shown below:
Manufacturing overhead Factory utilities + Depreciation on factory equipment + Indirect factory labor + Indirect material + Factory manager's salary+Property taxes + Factory repairs
Manufacturing overhead 15700+14450+49000+82600+22400+3490+2200
Manufacturing overhead $189,840
Thus, manufacturing overhead is $189,840
Calculate product costs as shown below:
Direct material used $147,600
Direct labor $90,700
Manufacturing overhead $189,840
Product costs $428,140
Thus, product costs is $428,140
Calculate period costs as shown below:
Depreciation on delivery trucks $4,600
Sales salaries $53,900
Repairs to office equipment $3,300
Advertising $23,200
Office supplies used $6,490
Period costs $91,490
Thus, period costs is $91,490
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