4. A company manufactures a single product for its customers by contracting in advance of production. Thus, the company produces only units that will be sold by the end of each period. For the last period, the following data were available: Sales P40,000 Direct materials Direct labor 6,050 Rent (9/10 factory, 1/10 office) 3,000 Depreciation on factory equipment Supervision (2/3 factory, 1/3 office) Salespeople's salaries Insurance (2/3 factory, 1/3 office) 1,200 Office supplies Advertising 700 Depreciation on office equipment 500 Interest on loan 9,050 2,000 1,500 1,300 750 300 The gross profit margin percentage (rounded) was

4. A company manufactures a single product for its customers by contracting in advance of production. Thus, the company produces only units that will be sold by the end of each period. For the last period, the following data were available: Sales P40,000 Direct materials Direct labor 6,050 Rent (9/10 factory, 1/10 office) 3,000 Depreciation on factory equipment Supervision (2/3 factory, 1/3 office) Salespeople's salaries Insurance (2/3 factory, 1/3 office) 1,200 Office supplies Advertising 700 Depreciation on office equipment 500 Interest on loan 9,050 2,000 1,500 1,300 750 300 The gross profit margin percentage (rounded) was

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 4EB: Roper Furniture manufactures office furniture and tracks cost data across their process. The...

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Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?
Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Refer to Exercise 2.21. Last calendar year, Ellerson recognized revenue of 1,312,000 and had selling and administrative expenses of 204,600. Required: 1. What is the cost of goods sold for last year? 2. Prepare an income statement for Ellerson for last year.
Orinder Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 275,800, direct labor cost was 153,000, and overhead cost was 267,300. There were 25,000 units produced. Unit manufacturing cost (rounded to the nearest cent) is a. 28.40 b. 27.98 c. 34.95 d. 27.55
The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
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A production department within a company received materials of $7,000 and conversion costs of $5,000 from the prior department. It added material of $78400 and conversion costs of $47000. The equivalent units are 5,000 for material and 4,000 for conversion. What is the unit cost for materials and conversion?
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