4-4 Product versus period costs (LO 1, 2)Carleton Closures, Inc., manufactures president of Carleton Closures, Inc., has gathered the following cost information from the company's accounting records for the latest month of operations.Advertising$25,000Fire insurance premium for the factory building$6,250Sales office utilities$2,500Air filters for the buffing machines used to produce the clamps$1,875Aluminum used to produce the clamps$37,500Rent on the factory building$10,000Freight to ship the clamps to customers$3,125Sales department executives' salaries$42,500Production supervisors' salaries$22,500Assembly line workers' wages$60,000Requireda.Calculate the total period costs for the month.bCalculate the total product costs for the month.cCalculate the amount of manufacturing overhead incurred for the month.

Answered: 4-4 Product versus period costs (LO 1,…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter2: Basic Managerial Accounting Concepts

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4-4 Product versus period costs (LO 1, 2)Carleton Closures, Inc., manufactures president of Carleton Closures, Inc., has gathered the following cost information from the company's accounting records for the latest month of operations.

Advertising	$25,000
Fire insurance premium for the factory building	$6,250
Sales office utilities	$2,500
Air filters for the buffing machines used to produce the clamps	$1,875
Aluminum used to produce the clamps	$37,500
Rent on the factory building	$10,000
Freight to ship the clamps to customers	$3,125
Sales department executives' salaries	$42,500
Production supervisors' salaries	$22,500
Assembly line workers' wages	$60,000

Required

a.Calculate the total period costs for the month.

bCalculate the total product costs for the month.

cCalculate the amount of manufacturing overhead incurred for the month.

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