Francis manufacturers, a manufacturer of wood doors and windows, has prepared the following list of accounts Advertising $36,000 Assemblers wages 84,200 Production supervisor’s salary 21,400 Depreciation of machinery 9,200 Factory utilities 55,600 Lathe machine (machine for shaping wood) Operators wages 66,400 Machinery repairs 22,600 Office salaries 113,800 Purchase of glue 1,600 Purchase of screws and nails 800 Purchase of pine 99,000 Purchase of oak 250,000 There is no beginning or ending inventory. Calculate the following: (a) Direct material used (b) Direct labour cost (c) Factory overhead (d) Prime cost (e) Conversion cost (f) Production cost

Francis manufacturers, a manufacturer of wood doors and windows, has prepared the following list of accounts Advertising $36,000 Assemblers wages 84,200 Production supervisor’s salary 21,400 Depreciation of machinery 9,200 Factory utilities 55,600 Lathe machine (machine for shaping wood) Operators wages 66,400 Machinery repairs 22,600 Office salaries 113,800 Purchase of glue 1,600 Purchase of screws and nails 800 Purchase of pine 99,000 Purchase of oak 250,000 There is no beginning or ending inventory. Calculate the following: (a) Direct material used (b) Direct labour cost (c) Factory overhead (d) Prime cost (e) Conversion cost (f) Production cost

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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Roper Furniture manufactures office furniture and tracks cost data across their process. The following are some of the costs that they incur. Classify these costs as fixed or variable costs, and as product costs or period costs. Wood used to produce desks ($125,00 per desk) Production labor used to produce desks ($15 per hour) Production supervisor salary ($45,000 per year) Depreciation on factory equipment ($60,000 per year) Selling and administrative expenses ($45,000 per year) Rent on corporate office ($44,000 per year) Nails, glue, and other materials required to produce desks (varies per desk) Utilities expenses for production facility Sales staff commission (5% of gross sales)
Francis manufacturers, a manufacturer of wood doors and windows, have prepared the following list of accounts. Advertising $36,000 Assemblers wages 84,200 Production supervisor’s salary 21,400 Depreciation of machinery 9,200 Factory utilities 55,600 Lathe machine (machine for shaping wood) Operators wages 66,400 Machinery repairs 22,600 Office salaries 113,800 Purchase of glue 1,600 Purchase of screws and nails 800 Purchase of pine 99,000 Purchase of oak 250,000 There is no beginning or ending inventory. Calculate the following: (a) Direct material used (b) Direct labor cost (c) Factory overhead (d) Prime cost (e) Conversion cost (f) Production cost 2. Compute cost of goods manufactured and cost of goods sold from the following amounts, using the equation method. Beginning of Year End of Year Direct materials inventory…
Francis manufacturers, a manufacturer of wood doors and windows, has prepared the following list of accounts Advertising $36,000 Assemblers’ wages 84,200 Production supervisor’s salary 21,400 Depreciation of machinery 9,200 Factory utilities 55,600 Lathe machine (machine for shaping wood) Operators wages 66,400 Machinery repairs 22,600 Office salaries 113,800 Purchase of glue 1,600 Purchase of screws and nails 800 Purchase of pine 99,000 Purchase of oak 250,000 There is no beginning or ending inventory. Calculate the following: (b) Direct labour cost (d) Prime cost (f) Production cost
Specter Company, a small manufacturer, has submitted the items below concerning last year'soperations. The president's secretary, trying to be helpful, has alphabetized the list.Administrative salaries $2,400Advertising expense 1,200Depreciation—factory building 800Depreciation—factory equipment 1,600Depreciation—office equipment 180Direct labour cost 21,900Raw materials inventory, beginning 2,100Raw materials inventory, ending 3,200Finished goods inventory, beginning 46,980Finished goods inventory, ending 44,410General liability insurance expense 240Indirect labour cost 11,800Insurance on factory 1,400Purchases of raw materials 14,600Repairs and maintenance of factory 900Sales salaries 2,000Taxes on factory 450Travel and entertainment expense 1,410Work in process inventory, beginning 1,670Work in process inventory, ending 1,110Required:a. Prepare a schedule of Cost of Goods Manufactured in good form for the year. UseDecember and current year for time period. b. Determine the Cost of…
Aelan Products Company, a small manufacturer, has submitted the items below concerning last year's operations. The president's secretary, trying to be helpful, has alphabetized the list. Administrative salaries $4,800 Advertising expense 2,400 Depreciation—factory building 1,600 Depreciation—factory equipment 3,200 Depreciation—office equipment 360 Direct labour cost 43,800 Raw materials inventory, beginning 4,200 Raw materials inventory, ending 6,400 Finished goods inventory, beginning 93,960 Finished goods inventory, ending 88,820 General liability insurance expense 480 Indirect labour cost 23,600 Insurance on factory 2,800 Purchases of raw materials 29,200 Repairs and maintenance of factory 1,800 Sales salaries 4,000 Taxes on factory 900 Travel and entertainment expense 2,820 Work in process inventory, beginning 3,340 Work in process inventory, ending 2,220…
Country Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include: Depreciation on sales office $ 9800 Depreciation on factory equipment 16,700 Factory supervisor salary 50,100 Sales commissions 23,700 Lubricants used in factory equipment 3600 Insurance costs for factory 21,400 Wages paid to maintenance workers 115,200 Fabric used to upholster furniture 10,400 Freight-in (on raw materials) 3200 Costs of delivery to customers 9300 Wages paid to assembly-line workers 115,700 Lumber used to build product 82,600 Utilities in factory 54,000 Utilities in sales office 26,300 Product costs for Country Furniture Company totaled Question 16 options: $448,300. $472,900. $489,200. $373,100.
Mariposa Manufacturing builds custom wooden cabinets, Mariposa Manufacturing has reported the following costs for the previous year. Assume no production inventories. Advertising: $70,000Cost of hardware (slides, handles, etc.): $34,000 Cost of wood: $117,000 Depreciation on production equipment: $63,000Factory property taxes: $17,300 Factory rent: $76,000 Glue: $3,800 Production supervisor salary: $40,700Sales manager salary: $41,600Utilities for factory: $23,900 Wages for maintenance workers: $31,800 Wages of assembly workers: $91,400Wages of finishing workers: $77,300 Compute the prime cost
Mariposa Manufacturing builds custom wooden cabinets, Mariposa Manufacturing has reported the following costs for the previous year. Assume no production inventories. Advertising: $70,000Cost of hardware (slides, handles, etc.): $34,000 Cost of wood: $117,000 Depreciation on production equipment: $63,000Factory property taxes: $17,300 Factory rent: $76,000 Glue: $3,800 Production supervisor salary: $40,700Sales manager salary: $41,600Utilities for factory: $23,900 Wages for maintenance workers: $31,800 Wages of assembly workers: $91,400Wages of finishing workers: $77,300 Compute the direct material cost and direct labor cost
Vutech Company, a manufacturing firm, has supplied the following information from its accounting records for the month of April: Factory supplies used: $7800 Depreciation on factory building: $ 17500 Salary of company controller: $6300 Factory janitorial costs: $ 4000 Marketing and promotion: $ 9000 Direct Labor costs: $35,000 Purchase of raw materials: 8300 Finished good inventory, Apr 1: $6250 Finished goods inventory, Apr 30: $4450 Work in progress inventory, Apr 1: $12,500 Work in progress inventory, Apr 30: $12000 Material inventory, Apr 1: $7700 Materials inventory, Apr 30: 6400 Prepare a Statement of Cost of Goods Manufactured? How do you figure out the Overhead for the Statement of Cost of Goods Manufactured?
Doenjang Jjigae Manufacturing Company has the following account balances at year end: Office Supplies- P4,000; Raw materials- P27,000; Work in process- P59,000; Finished goods- P72,000; Prepaid insurance- P6,000. What amount should Doenjang Jjigae report as inventories in its balance sheet? a. P158,000 b. P162,000 c. P76,000 d. P72,000
Mariposa Manufacturing builds custom wooden cabinets, Mariposa Manufacturing has reported the following costs for the previous year. Assume no production inventories. Advertising: $70,000 Cost of hardware (slides, handles, etc.): $34,000 Cost of wood: $117,000 Depreciation on production equipment: $63,000 Factory property taxes: $17,300 Factory rent: $76,000 Glue: $3,800 Production supervisor salary: $40,700 Sales manager salary: $41,600 Utilities for factory: $23,900 Wages for maintenance workers: $31,800 Wages of assembly workers: $91,400 Wages of finishing workers: $77,300 Compute the conversion cost Please answer it ASAP ?
Mariposa Manufacturing builds custom wooden cabinets, Mariposa Manufacturing has reported the following costs for the previous year. Assume no production inventories. Advertising: $70,000 Cost of hardware (slides, handles, etc.): $34,000 Cost of wood: $117,000 Depreciation on production equipment: $63,000 Factory property taxes: $17,300 Factory rent: $76,000 Glue: $3,800 Production supervisor salary: $40,700 Sales manager salary: $41,600 Utilities for factory: $23,900 Wages for maintenance workers: $31,800 Wages of assembly workers: $91,400 Wages of finishing workers: $77,300 Compute the manufacturing overhead and total manufacturing cost

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9781947172609

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bartleby, a Learneo, Inc. business

Advertising	$36,000
Assemblers wages	84,200
Production supervisor’s salary	21,400
Depreciation of machinery	9,200
Factory utilities	55,600
Lathe machine (machine for shaping wood) Operators wages	66,400
Machinery repairs	22,600
Office salaries	113,800
Purchase of glue	1,600
Purchase of screws and nails	800
Purchase of pine	99,000
Purchase of oak	250,000