Homework Answers
Solution
| Product manufacturing cost | |||||
| Direct materials | Direct labor | Manufacturing overhead | Period cost | ||
| Depreciation on factory equipment | $ 5,000 | $ 5,000 | |||
| Rent expense- Sales office | $ 3,000 | $ 3,000 | |||
| Sales people salaries | $ 15,000 | $ 15,000 | |||
| Wood for making chairs | $ 65,000 | $ 65,000 | |||
| Wages for assemblu line worker | $ 80,000 | $ 80,000 | |||
| Small nails and glue for production' | $ 2,000 | $ 2,000 | |||
| Supply for accountants | $ 1,500 | $ 1,500 | |||
| Depreciation on delivery truck | $ 1,200 | $ 1,200 | |||
| Rent for factory | $ 7,000 | $ 7,000 | |||
| Factory security salaries | $ 13,000 | $ 13,000 | |||
| Production manager salary | $ 6,000 | $ 6,000 | |||
| Supplies expense for factory | $ 1,500 | $ 1,500 | |||
| Depreciation on sales car | $ 2,500 | $ 2,500 | |||
| Depreciation on factory computer | $ 1,200 | $ 1,200 | |||
| Material manager salary | $ 5,500 | $ 5,500 | |||
| Factory utilities expense | $ 3,500 | $ 3,500 | |||
| Sales office utility expense | $ 2,500 | $ 2,500 | |||
| Sales commission for sales people | $ 6,500 | $ 6,500 | |||
| Cost for tools for factory | $ 7,000 | $ 7,000 | |||
| $ 228,900 | $ 65,000 | $ 80,000 | $ 51,700 | $ 32,200 | |
Add Answer to:
Complete the total amounts of each column.
Product/Manufacturing Costs Direct Labor Manufacturing Overhead Period/Non Manufacturing Period...
Complete the total amounts for each column. Product/Manufacturing Costs Direct Labor Manufacturing Overhead Period/Non Manufacturing Period...
Complete the total amounts for each column.
Product/Manufacturing Costs Direct Labor Manufacturing Overhead Period/Non Manufacturing Period Cost/Expense Direct Materials Depreciation on Factory Equipment Rent Expense - Sales Office Sales peoples Salaries Wood for making Chairs Wages for Assembly Line Workers Small nails& Glue for production Supplies for Accountants Depreciation on Delivery Truck Rent for Factory Factory Security Salaries Production Manager Salary Supplies Expense for factory Depreciation on Sales Cars Depreciation on factory computers Materials manager salary Factory Utilities Expense Sales...
Use the file Product or Period Cost worksheet. Complete the total amounts for each column. Product...
Use
the file Product or Period Cost worksheet. Complete the total
amounts for each column.
Product Manufacturing Costs Direct Labor Manufacturing Overhead Period/Non Manufacturing Costs Period Cost/Expense Direct Materials Depreciation on Factory Equipment Rent Expense - Sales Office Sales peoples Salaries Wood for making Chairs Wages for Assembly Line Workers Small nails& Glue for production Supplies for Accountants Depreciation on Delivery Truck Rent for Factory Factory Security Salaries Production Manager Salary Supplies Fixpense for factory Depreciation on Sales Cars Depreciation...
Help sort each expense item into period or product (Direct material, direct labor, or manufacturing overhead)...
Help sort each expense item into period or product (Direct
material, direct labor, or manufacturing overhead)
EXHIBIT 1-A: Classify costs as Period or Product (DM, DL or MOH) T.。.TES. Estimated Revenues and Expenses Year IDENTIFY TYPE OF COST (put at X in the correct column) Activity level based on sales forecast (totes) 600,000 Projected Period Product Costs Amount Account Cost DM DL MOH Sales Revenues Totes 072,000 Expenses 3,600 150,000 Administrative Office Supplies Administrative Staff, e.g. accountant, receptionist Administrative Payroll...
Determine total overhead manufacturing cost, total product costs, and total amount of period costs. Exercise 14-4...
Determine total overhead manufacturing cost, total product
costs, and total amount of period costs.
Exercise 14-4 Knight Company reports the following costs and expenses in May. Factory utilities Depreciation on factory equipment $16,800 Direct labor $72,600 14,350 Sales salaries 46,700 Property taxes on factory Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary 4,200 52,500 84,300 3,500 1,700 2,970 16,700 3,370 Repairs to office equipment Factory repairs 138,700 Advertising 8,400 office supplies used From...
determine period or product cost if a product cost which type direct labor, direct materials, or...
determine period or product cost
if
a product cost which type direct labor, direct materials, or
factory overhead
Commissions to sales representatives Period Cost Payroll department salaries Select One Maintenance of factory equipment Select One VP of Manufacturing salary Select One Accounting department office supplies Select One Factory rent Select One Factory utilities Select One Wages of assembly line workers Select One Factory janitorial services Select One Factory supplies Select One Leather for bicycle seats Select One Depreciation of office...
Determine the: Manufacturing overhead, Product costs, and Period costs. Knight Company reports the following costs and...
Determine the: Manufacturing overhead, Product costs, and Period
costs.
Knight Company reports the following costs and expenses in May. Direct labor Sales salaries Factory utilities Depreciation on factory equipment Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary $16,500 14,750 4,000 54,000 81,700 141,700 Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used $74,000 49,300 2,900 1,600 2,740 16,600 2,990 8,300 From the information:
Classify the following costs at a car manufacturer as a) product or period and b) direct...
Classify the following costs at a car manufacturer as a) product or period and b) direct materials (DM), direct labor (DL), manufacturing overhead (MOH), or selling or general and administrative expense (G&A). D M or D Lor If MOH What Selling Expense or Windshield Engine Wages of assembly line worker Depreciation of factory machines Factory machinery lubricants Steering wheel Salary painting supervisor Salary of company president Rent on office building Utilities on factory building Factory safety manager Janitorial wages on...
Use the following data to compute total manufacturing costs for the month: Sales commissions Direct labor...
Use the following data to compute total manufacturing costs for the month: Sales commissions Direct labor Indirect materials Factory manager salaries Factory supplies Indirect labor Depreciation office equipment Direct materials Corporate office salaries Depreciation-factory equipment $12,800 41,600 17,200 9,200 11,000 8,300 7,000 42,500 44,500 9,500 Ο $159,100. Ο $139,300. Ο $55,200. Ο $96,800. Ο $64,300.
Question 4 Classify each cost as a period or a product cost. 1. Advertising costs Product...
Question 4
Classify each cost as a period or a product cost.
1.
Advertising costs
Product CostPeriod Cost
2.
Glue and nails used in production
Period CostProduct Cost
3.
Depreciation on factory equipment
Product CostPeriod Cost
4.
Sales commission paid to salesperson
Period CostProduct Cost
5.
Salary of controller
Product CostPeriod Cost
6.
Wages paid to assembly-line workers
Product CostPeriod Cost
7.
Flour used in baking cakes
Period CostProduct Cost
8.
Utilities of the factory building
Period CostProduct Cost
9....
(A) Determine the total amount of manufacturing overhead: $_________ (B) Knight Company reports the following costs...
(A) Determine the total amount of manufacturing
overhead: $_________
(B)
Knight Company reports the following costs and expenses in May. $16,500 14,250 Direct labor Sales salaries $70,000 50,800 4,000 3,100 Factory utilities Depreciation on factory equipment Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary 52,700 85,700 142,700 8,600 Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used 2,000 2,220 16,800 3,060 National Express reports the following costs...
Complete the total amounts for each column.
Product/Manufacturing Costs Direct Labor Manufacturing Overhead Period/Non Manufacturing Period Cost/Expense Direct Materials Depreciation on Factory Equipment Rent Expense - Sales Office Sales peoples Salaries Wood for making Chairs Wages for Assembly Line Workers Small nails& Glue for production Supplies for Accountants Depreciation on Delivery Truck Rent for Factory Factory Security Salaries Production Manager Salary Supplies Expense for factory Depreciation on Sales Cars Depreciation on factory computers Materials manager salary Factory Utilities Expense Sales...
Use
the file Product or Period Cost worksheet. Complete the total
amounts for each column.
Product Manufacturing Costs Direct Labor Manufacturing Overhead Period/Non Manufacturing Costs Period Cost/Expense Direct Materials Depreciation on Factory Equipment Rent Expense - Sales Office Sales peoples Salaries Wood for making Chairs Wages for Assembly Line Workers Small nails& Glue for production Supplies for Accountants Depreciation on Delivery Truck Rent for Factory Factory Security Salaries Production Manager Salary Supplies Fixpense for factory Depreciation on Sales Cars Depreciation...
Help sort each expense item into period or product (Direct
material, direct labor, or manufacturing overhead)
EXHIBIT 1-A: Classify costs as Period or Product (DM, DL or MOH) T.。.TES. Estimated Revenues and Expenses Year IDENTIFY TYPE OF COST (put at X in the correct column) Activity level based on sales forecast (totes) 600,000 Projected Period Product Costs Amount Account Cost DM DL MOH Sales Revenues Totes 072,000 Expenses 3,600 150,000 Administrative Office Supplies Administrative Staff, e.g. accountant, receptionist Administrative Payroll...
Determine total overhead manufacturing cost, total product
costs, and total amount of period costs.
Exercise 14-4 Knight Company reports the following costs and expenses in May. Factory utilities Depreciation on factory equipment $16,800 Direct labor $72,600 14,350 Sales salaries 46,700 Property taxes on factory Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary 4,200 52,500 84,300 3,500 1,700 2,970 16,700 3,370 Repairs to office equipment Factory repairs 138,700 Advertising 8,400 office supplies used From...
determine period or product cost
if
a product cost which type direct labor, direct materials, or
factory overhead
Commissions to sales representatives Period Cost Payroll department salaries Select One Maintenance of factory equipment Select One VP of Manufacturing salary Select One Accounting department office supplies Select One Factory rent Select One Factory utilities Select One Wages of assembly line workers Select One Factory janitorial services Select One Factory supplies Select One Leather for bicycle seats Select One Depreciation of office...
Determine the: Manufacturing overhead, Product costs, and Period
costs.
Knight Company reports the following costs and expenses in May. Direct labor Sales salaries Factory utilities Depreciation on factory equipment Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary $16,500 14,750 4,000 54,000 81,700 141,700 Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used $74,000 49,300 2,900 1,600 2,740 16,600 2,990 8,300 From the information:
Classify the following costs at a car manufacturer as a) product or period and b) direct materials (DM), direct labor (DL), manufacturing overhead (MOH), or selling or general and administrative expense (G&A). D M or D Lor If MOH What Selling Expense or Windshield Engine Wages of assembly line worker Depreciation of factory machines Factory machinery lubricants Steering wheel Salary painting supervisor Salary of company president Rent on office building Utilities on factory building Factory safety manager Janitorial wages on...
Use the following data to compute total manufacturing costs for the month: Sales commissions Direct labor Indirect materials Factory manager salaries Factory supplies Indirect labor Depreciation office equipment Direct materials Corporate office salaries Depreciation-factory equipment $12,800 41,600 17,200 9,200 11,000 8,300 7,000 42,500 44,500 9,500 Ο $159,100. Ο $139,300. Ο $55,200. Ο $96,800. Ο $64,300.
Question 4
Classify each cost as a period or a product cost.
1.
Advertising costs
Product CostPeriod Cost
2.
Glue and nails used in production
Period CostProduct Cost
3.
Depreciation on factory equipment
Product CostPeriod Cost
4.
Sales commission paid to salesperson
Period CostProduct Cost
5.
Salary of controller
Product CostPeriod Cost
6.
Wages paid to assembly-line workers
Product CostPeriod Cost
7.
Flour used in baking cakes
Period CostProduct Cost
8.
Utilities of the factory building
Period CostProduct Cost
9....
(A) Determine the total amount of manufacturing
overhead: $_________
(B)
Knight Company reports the following costs and expenses in May. $16,500 14,250 Direct labor Sales salaries $70,000 50,800 4,000 3,100 Factory utilities Depreciation on factory equipment Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary 52,700 85,700 142,700 8,600 Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used 2,000 2,220 16,800 3,060 National Express reports the following costs...
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