Alton Company produces metal belts. During the current month, the company incurred the following product costs:...
Alton Company produces metal belts. During the current month, the company incurred the following product costs:
Raw materials $97,000;
Direct labor $58,500;
Electricity used in the Factory $23,000;
Factory foreperson salary $5,050; and
Maintenance of factory machinery $2,200.
Alton Company's indirect product costs totaled:
Multiple Choice
-
$30,250.
-
$28,050.
-
$58,500.
-
$155,500.
Homework Answers
Correct answer----------$30,250
Working
| Electricity used in the Factory | $ 23,000.00 |
| Factory foreperson salary | $ 5,050.00 |
| Maintenance of factory machinery | $ 2,200.00 |
| Total Indirect product cost | $ 30,250.00 |
All factory cost except direct material and direct labor are indirect product cost. Indirect cost of product are also known as factory overheads.
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