Homework Answers
| Answer: |
| Products Costs are the Costs that relate to Product i.e., Direct material, Direct Labor, Factory Overhead |
| And the Cost that relate the Period of the Product i.e., Operating Expenses, Selling and Administrative expenses are the Period Costs |
| Period Costs = Operating Expenses = $ 145,000 |
| Option (d) is Correct |
Add Answer to:
Williams Company reports production costs for 2012 as follows: Direct materials used $375,000 Direct labor incurred...
QUESTION 3 Jensen Company reports the following: Direct materials used Direct labor incurred Factory overhead incurred...
QUESTION 3 Jensen Company reports the following: Direct materials used Direct labor incurred Factory overhead incurred Operating expenses $345,000 250,000 400,000 175,000 Jensen Company's period costs are a. $250,000 b. $400,000 c. $345,000 d. $175,000
1) Jensen Company reports the following: Direct materials used $345,000 Direct labor incurred 250,000 Factory overhead...
1) Jensen Company reports the following: Direct materials used $345,000 Direct labor incurred 250,000 Factory overhead incurred 400,000 Operating expenses 175,000 Jensen Company's product costs are a. $770,000 b. $825,000 c. $995,000 d. $920,000 2) A corporation issues for cash $9,000,000 of 8%, 30-year bonds, interest payable semiannually. The amount received for the bonds will be a.present value of 30 annual interest payments of $720,000 b.present value of 60 semiannual interest payments of $360,000, plus present value of $9,000,000 to...
Ramirez Company reports the following costs for the year: Direct Materials Used $ 180,000 Direct Labor...
Ramirez Company reports the following costs for the year: Direct Materials Used $ 180,000 Direct Labor Incurred Manufacturing Overhead Incurred Selling and Administrative Expenses How much are Ramirez's period costs? 190,000 75,000 195,000 O A. $370,000 O B. $195,000 OC. $270,000 OD. $445,000
Reedy Company reports the following information for 2012: Cost of goods manufactured $69,500 Direct materials used...
Reedy Company reports the following information for 2012: Cost of goods manufactured $69,500 Direct materials used 27,000 Direct labor incurred 25,000 Work in process inventory, January 1, 2012 11,000 Factory overhead is 75% of the cost of direct labor. Work in process inventory on December 31, 2012, is: a) 13,500 b) 10,200 c) 22,500 d) 12,250
1) 2) 3) 4) Which of the following will not be found on the balance sheet...
1)
2)
3)
4)
Which of the following will not be found on the balance sheet of a manufacturing company? Oa. work in process Ob. cost of goods sold Oc. finished goods Od. materials Jensen Company reports the following: Direct materials used Direct labor incurred Factory overhead incurred Operating expenses $345,000 250,000 400,000 175,000 Jensen Company's period costs are Oa. $400,000 Ob. $175,000 Oc. $250,000 Od. $345,000 The direct materials costs and direct labor costs incurred by a production department...
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the...
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the current year. Indirect labor amounted to $2,700 while indirect materials used totaled $1,600. Other operating costs pertaining to the factory included utilities of $3,100, maintenance of $4,500, supplies of $1,800, depreciation of $7,900, and property taxes of $2,600. There was no beginning or ending finished goods inventory, but work in process Inventory began the year with a $5,500 balance and ended the year with...
Instructions (a) Identify each of the above costs as direct materials, direct labor, manufactu head, or...
Instructions (a) Identify each of the above costs as direct materials, direct labor, manufactu head, or period costs. (b) Explain the basic difference in accounting for product costs and period costs. ect labor, manufacturing over- $69,100 46,400 E14.4 Knight Company reports the following costs and expenses in May. Factory utilities $ 15,500 Direct labor Depreciation on factory Sales salaries equipment 12,650 Property taxes on factory Depreciation on delivery trucks 3,800 building Indirect factory labor 48,900 Repairs to office equipment Indirect...
Knight Company reports the following costs and expenses in May. Factory utilities $16,000 Direct labor $72,700...
Knight Company reports the following costs and expenses in
May.
Factory utilities
$16,000
Direct labor
$72,700
Depreciation on factory equipment
14,250
Sales salaries
50,000
Depreciation on delivery trucks
4,900
Property taxes on factory building
2,600
Indirect factory labor
53,500
Repairs to office equipment
1,800
Indirect materials
85,000
Factory repairs
2,970
Direct materials used
141,700
Advertising
15,600
Factory manager’s salary
8,100
Office supplies used
3,420
From the information:
Determine the total amount of manufacturing overhead.
Manufacturing overhead
$
Determine the total...
Knight Company reports the following costs and expenses in May. $17,000 Direct labor $70,400 Factory utilities...
Knight Company reports the following costs and expenses in May. $17,000 Direct labor $70,400 Factory utilities Depreciation on factory equipment 13,550 Sales salaries 50,700 Depreciation on delivery trucks 4,300 3,200 Indirect factory labor Indirect materials Direct materials used Factory manager's salary 53,200 85,600 137,700 8,700 Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used 2,400 2,960 15,600 3,510 From the information: Determine the total amount of manufacturing overhead. Manufacturing overhead Determine the total amount...
Knight Company reports the following costs and expenses in May. Factory utilities $16,300 Direct labor $73,300...
Knight Company reports the following costs and expenses in May. Factory utilities $16,300 Direct labor $73,300 Depreciation on factory equipment 13,350 Sales salaries 46,700 Depreciation on delivery trucks 4,600 Property taxes on factory building 3,300 Indirect factory labor 53,400 Repairs to office equipment 2,000 Indirect materials 83,100 Factory repairs 2,590 Direct materials used 142,700 Advertising 16,900 Factory manager's salary 8,300 Office supplies used 3,150 From the information: Determine the total amount of manufacturing overhead. Manufacturing overhead $ e Textbook and...
QUESTION 3 Jensen Company reports the following: Direct materials used Direct labor incurred Factory overhead incurred Operating expenses $345,000 250,000 400,000 175,000 Jensen Company's period costs are a. $250,000 b. $400,000 c. $345,000 d. $175,000
Ramirez Company reports the following costs for the year: Direct Materials Used $ 180,000 Direct Labor Incurred Manufacturing Overhead Incurred Selling and Administrative Expenses How much are Ramirez's period costs? 190,000 75,000 195,000 O A. $370,000 O B. $195,000 OC. $270,000 OD. $445,000
1)
2)
3)
4)
Which of the following will not be found on the balance sheet of a manufacturing company? Oa. work in process Ob. cost of goods sold Oc. finished goods Od. materials Jensen Company reports the following: Direct materials used Direct labor incurred Factory overhead incurred Operating expenses $345,000 250,000 400,000 175,000 Jensen Company's period costs are Oa. $400,000 Ob. $175,000 Oc. $250,000 Od. $345,000 The direct materials costs and direct labor costs incurred by a production department...
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the current year. Indirect labor amounted to $2,700 while indirect materials used totaled $1,600. Other operating costs pertaining to the factory included utilities of $3,100, maintenance of $4,500, supplies of $1,800, depreciation of $7,900, and property taxes of $2,600. There was no beginning or ending finished goods inventory, but work in process Inventory began the year with a $5,500 balance and ended the year with...
Instructions (a) Identify each of the above costs as direct materials, direct labor, manufactu head, or period costs. (b) Explain the basic difference in accounting for product costs and period costs. ect labor, manufacturing over- $69,100 46,400 E14.4 Knight Company reports the following costs and expenses in May. Factory utilities $ 15,500 Direct labor Depreciation on factory Sales salaries equipment 12,650 Property taxes on factory Depreciation on delivery trucks 3,800 building Indirect factory labor 48,900 Repairs to office equipment Indirect...
Knight Company reports the following costs and expenses in
May.
Factory utilities
$16,000
Direct labor
$72,700
Depreciation on factory equipment
14,250
Sales salaries
50,000
Depreciation on delivery trucks
4,900
Property taxes on factory building
2,600
Indirect factory labor
53,500
Repairs to office equipment
1,800
Indirect materials
85,000
Factory repairs
2,970
Direct materials used
141,700
Advertising
15,600
Factory manager’s salary
8,100
Office supplies used
3,420
From the information:
Determine the total amount of manufacturing overhead.
Manufacturing overhead
$
Determine the total...
Knight Company reports the following costs and expenses in May. $17,000 Direct labor $70,400 Factory utilities Depreciation on factory equipment 13,550 Sales salaries 50,700 Depreciation on delivery trucks 4,300 3,200 Indirect factory labor Indirect materials Direct materials used Factory manager's salary 53,200 85,600 137,700 8,700 Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used 2,400 2,960 15,600 3,510 From the information: Determine the total amount of manufacturing overhead. Manufacturing overhead Determine the total amount...
Knight Company reports the following costs and expenses in May. Factory utilities $16,300 Direct labor $73,300 Depreciation on factory equipment 13,350 Sales salaries 46,700 Depreciation on delivery trucks 4,600 Property taxes on factory building 3,300 Indirect factory labor 53,400 Repairs to office equipment 2,000 Indirect materials 83,100 Factory repairs 2,590 Direct materials used 142,700 Advertising 16,900 Factory manager's salary 8,300 Office supplies used 3,150 From the information: Determine the total amount of manufacturing overhead. Manufacturing overhead $ e Textbook and...
Most questions answered within 3 hours.
-
Two concentric current loops lie in the same plane. The smaller
loop has a radius of...
asked 4 minutes ago -
1)Which of the following is an
important difference between qualified and nonqualified retirement
plans?
a. Qualified...
asked 16 minutes ago -
What's the streaming business's problem on the
horizon?
asked 1 hour ago -
I need help with writing the conclusion for this online lab
report
Abstract
By testing the...
asked 1 hour ago -
For the reaction 1N2+3H2-----> 2NH3, would the reaction rate
trend be: delta[NH3]/ delta t = -2...
asked 1 hour ago -
Within your current/past organization, identify a problem/issue
and format a design to address same. You may...
asked 1 hour ago -
A sock stuck to the side of a clothes-dryer barrel has a
centripetal acceleration of 24...
asked 2 hours ago -
A perfect gas undergoes an isentropic process such that its
volume doubles. If the ratio of...
asked 3 hours ago -
list the elements in groups 3A to 6A in the same order as in the
periodic...
asked 3 hours ago -
Estimating effect size. Peng and Chen (2014)
evaluated effect size estimates for various tests. In their...
asked 3 hours ago -
Write a script in MySQL that creates and calls a stored
procedure name test. This procedure...
asked 3 hours ago -
If we test the following: H0: μ = 17
vs. H1: μ ≠ 17 and the...
asked 3 hours ago