Harrison , Inc : Advertising Costs President's Salary Tax Payments Factory Repair and Maintenance Direct Materials Used $10,600; 230000; 12, 500 920 Direct Labor Administrative Salaries 27, 500; 36, 22000 How much were Harrison's product costs ? Select one : a . $64,420 Ob . $86,420 . $65,620 Od . $339,520

Harrison , Inc : Advertising Costs President's Salary Tax Payments Factory Repair and Maintenance Direct Materials Used $10,600; 230000; 12, 500 920 Direct Labor Administrative Salaries 27, 500; 36, 22000 How much were Harrison's product costs ? Select one : a . $64,420 Ob . $86,420 . $65,620 Od . $339,520

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 7MC: What is the cost of direct labor f the conversion costs are $330.000 and manufacturing overhead is...

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What is the cost of direct labor f the conversion costs are $330.000 and manufacturing overhead is $275,000? $55,000 $275,000 $330,000 $605,000
1) The following information relates to Webster Inc.: Advertising Costs $10,270 Administrative Salaries 24,700 Delivery Vehicle Depreciation 1,027 Factory Repair and Maintenance 910 Indirect Labor 11,700 Indirect Materials 9,360 Manufacturing Equipment Depreciation 2,080 Office Rent 61,100 President's Salary 40,300 Sales Revenue 450,000 Sales Salary 4,500 How much were Webster's period costs? A) $141,897 B) $474,050 C) $615,947 D) $61,503
The following information relates to Chesapeake Inc. Advertising Costs $10,270 Sales Salary 4,500 Sales Revenue 450,000 President's Salary 40,300 Office Rent 61,100 Manufacturing Equipment Depreciation 2,080 Indirect Materials 9,360 Indirect Labor 11,700 Factory Repair and Maintenance 910 Direct Materials 28,080 How much were Chesapeake Inc.'s product costs? A) $141,897 B) 697,127 C) $229,127 D) $87,230
The following information relates to Wagner, Inc.: Advertising Costs $10,600 Administrative Salaries 12,800 Delivery Vehicle Depreciation 1,200 Factory Repair and Maintenance 800 Indirect Labor 16,500 Indirect Materials 14,500 Manufacturing Equipment Depreciation 2,500 Administrative Office Rent 52,000 President's Salary 1,500 Sales Revenue 460,000 Sales Salary 5,200 How much were Wagner's period costs? Question content area bottom Part 1 A.$ 465 comma 200 $465,200 B.$ 83 comma 300 $83,300 C.$ 34 comma 300 $34,300 D.$ 6 comma 700
The following information relates to Washington, Inc.: Advertising Costs $11,200 Sales Salary 11,800 Sales Revenue 460,000 President's Salary 300,000 Office Rent 62,000 Manufacturing Equipment Depreciation 1,000 Indirect Materials Used 5,800 Indirect Labor 11,000 Factory Repair and Maintenance 900 Direct Materials Used 28,000 Direct Labor 28,000 Delivery Vehicle Depreciation 1,650 Administrative Salaries 29,500 How much were Washington's product costs? A. $471,200 B. $576,150 C. $329,500 D. $74,700
what is the product cost Factory rent$3,170Company advertising 1,030Wages paid to assembly workers 31,300Depreciation for salespersons’ vehicles 2,160Screws 560Utilities for factory 900Assembly supervisor’s salary 3,660Sandpaper 175President’s salary 5,090Plastic tubing 4,150Paint 275Sales commissions 1,210Factory insurance 1,040Depreciation on cutting machines 2,020Wages paid to painters 7,700
1. Categorize each of the following as a fixed expense or a variable expense. 1) CFO salary, $600,000 a year 2) Sales associates receive a commission of $6 for each unit sold 3) Material used to make the product costs $10 a unit 4) Accountant’s fees, $8,000 for the year 5) Rent is $50,000 for the year
2. Burnham Industries incurs the following costs for the month: Direct materials $2,000 Direct labor 3,000 Factory depreciation expense 3,500 Factory utilities expense 750 CEO's salary 4,000 How much is the prime cost? How much is the conversion cost? PLEASE NOTE: All amounts rounded to whole dollar and shown with "$" and commas as needed (i.e. $12,345).
Factory utilities Direct labor $79,100 13,500 8,000 Depreciation on 12,650 Factory manager's factoryequipm salary ent Factory repairs 2,000 2,640 Indirect factory 48,900 Administrative office labor supplies used Indirect materials 70,800 Sales salaries 48,400 23,000 Direct materials 157,600 Advertising used How much is the total period cost in May?
A company is setting its direct materials and direct labor standards for its leading product. Direct materials cost from the supplier are $7 per square foot, net of purchase discount. Freight−in amounts to $0.40 per square foot. Basic wages of the assembly line personnel are $17 per hour. Payroll taxes are approximately 20% of wages. Benefits amount to $4 per hour. How much is the direct materials cost standard per square foot? A. $21.00 B. $7.00 C. $28.00 D. $7.40
FINANCIAL ACCOUNTING AND REPORTING Superman Company Superman Company has the following costs and expenses for the year ending December 21, 2X20. Raw materials, 1/1/20 P30,000 Property taxes, factory building P6,000 Raw materials, 12/31/20 20,000 Sales revenue 1,500,000 Raw materials purchases 205,000 Delivery expenses 100,000 Work-in-process, 1/1/20 80,000 Sales commissions 150,000 Work-in-process, 12/31/20 50,000 Indirect labor 105,000 Finished goods, 1/1/20 110,000 Factory machinery rent 40,000 Finished goods, 12/31/20 120,000 Factory utilities 65,000 Direct labor 350,000 Depreciation, factory building 24,000 Factory manager’s salary 35,000 Administrative expenses 300,000 Insurance, factory 14,000 Requirement: Prepare a cost of goods manufactured schedule for Superman Company for Note: Assume that all raw materials used were direct materials. Prepare an income statement for…
Roderick Company Roderick Company reported the following costs and expenses in May. Factory utilities P15,600 Direct labor P89,100 Depreciation on factory equipment 12,650 Sales salaries 46,400 Depreciation on delivery trucks 8,800 Property taxes on factory building 2,500 Indirect factory labor 48,900 Repairs to office equipment 2,300 Indirect materials 80,800 Factory repairs 2,000 Direct materials used 137,600 Advertising 18,000 Factory manager’s salary 13,000 Office supplies used 5,640 Requirement: Using the given information, determine the total amount of: Manufacturing overhead Product costs Period costs