Homework Answers
a):- Cost of Goods in Productions = Direct material + Direct labour + Indirect labor + additional factory (2 X Material used)overhead
= $150000 + $620000 + $120000 + 2 X $150000
=$1190000.
b):- Unit cost of production= Cost of production / Produced units
=$1190000 / 1000 units
=$1190
c):-Total period cost = Administrative salary + Sales salary
= $130000 + $60000
=$190000.
Note:- Period cost are those cost which are not related to production.
d):- Total factory overead = Indirect labor + Additional factory overhead ( 2 Times of material use rate)
=$120,000 + $300,000(2 X $150000)
=$420,000.
Note: Indirect labor is part of factory overhead.
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