A review of accounting records for last year disclosed the following selected information: Variable costs: Direct materials used 48,000 Direct labor 165,000 Manufacturing overhead 95,000 Selling costs Fixed costs: 86,000 Manufacturing overhead 250,000 Selling costs 100,000 Administrative costs 223,000 In addition, the company suffered a $15,200 uninsured factory fire loss during the year. What were the product costs and period costs for last year?
A review of accounting records for last year disclosed the following selected information: Variable costs: Direct materials used 48,000 Direct labor 165,000 Manufacturing overhead 95,000 Selling costs Fixed costs: 86,000 Manufacturing overhead 250,000 Selling costs 100,000 Administrative costs 223,000 In addition, the company suffered a $15,200 uninsured factory fire loss during the year. What were the product costs and period costs for last year?
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter15: Introduction To Managerial Accounting
Section: Chapter Questions
Problem 2CMA
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