Instructions: a) Enter each cost item on your answer sheet, placing an "X" mark under the appropriate headings. Direct Materials Direct Labor Manufacturing Overhead Period Costs 1 Rent on manufacturing equipment ($2,000/month) 2 Insurance on manufacturing building ($750/month) 3 Raw materials ($80/bicycle) 4 Manufacturing utilities ($1,000/month) 5 Office supplies ($800/month) 6 Wages for workers ($30/bicycle) 7 Depreciation on office equipment ($650/month) 8 Miscellaneous materials ($1.20/bicycle) 9 Property taxes on manufacturing building ($2,400/year) 10 Manufacturing supervisor's salary ($3,000/month) 11 Advertising cost (30,000/year) 12 Sales commissions ($10/bicycle) 13 Depreciation on manufacturing building ($1,500/month) b) Compute total manufacturing costs for the month Cost Rent on manufacturing equipment Insurance on manufacturing building Raw materials Manufacturing utilities Labor Miscellaneous materials Property taxes on manufacturing building Manufacturing supervisor's salary Depreciation on manufacturing building Total manufacturing costs $
Instructions: a) Enter each cost item on your answer sheet, placing an "X" mark under the appropriate headings. Direct Materials Direct Labor Manufacturing Overhead Period Costs 1 Rent on manufacturing equipment ($2,000/month) 2 Insurance on manufacturing building ($750/month) 3 Raw materials ($80/bicycle) 4 Manufacturing utilities ($1,000/month) 5 Office supplies ($800/month) 6 Wages for workers ($30/bicycle) 7 Depreciation on office equipment ($650/month) 8 Miscellaneous materials ($1.20/bicycle) 9 Property taxes on manufacturing building ($2,400/year) 10 Manufacturing supervisor's salary ($3,000/month) 11 Advertising cost (30,000/year) 12 Sales commissions ($10/bicycle) 13 Depreciation on manufacturing building ($1,500/month) b) Compute total manufacturing costs for the month Cost Rent on manufacturing equipment Insurance on manufacturing building Raw materials Manufacturing utilities Labor Miscellaneous materials Property taxes on manufacturing building Manufacturing supervisor's salary Depreciation on manufacturing building Total manufacturing costs $
Chapter5: Process Costing
Section: Chapter Questions
Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...
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Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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Question
Instructions: | |||||
a) Enter each cost item on your answer sheet, placing an "X" mark under the appropriate headings. | |||||
Direct Materials | Direct Labor | Manufacturing |
Period Costs | ||
1 | Rent on manufacturing equipment ($2,000/month) | ||||
2 | Insurance on manufacturing building ($750/month) | ||||
3 | Raw materials ($80/bicycle) | ||||
4 | Manufacturing utilities ($1,000/month) | ||||
5 | Office supplies ($800/month) | ||||
6 | Wages for workers ($30/bicycle) | ||||
7 | |||||
8 | Miscellaneous materials ($1.20/bicycle) | ||||
9 | Property taxes on manufacturing building ($2,400/year) | ||||
10 | Manufacturing supervisor's salary ($3,000/month) | ||||
11 | Advertising cost (30,000/year) | ||||
12 | Sales commissions ($10/bicycle) | ||||
13 | Depreciation on manufacturing building ($1,500/month) | ||||
b) Compute total |
|||||
Cost | |||||
Rent on manufacturing equipment | |||||
Insurance on manufacturing building | |||||
Raw materials | |||||
Manufacturing utilities | |||||
Labor | |||||
Miscellaneous materials | |||||
Property taxes on manufacturing building | |||||
Manufacturing supervisor's salary | |||||
Depreciation on manufacturing building | |||||
Total manufacturing costs | $ | ||||
Direct Materials | Direct Labor | Manufacturing Overhead | Period Costs | ||
1 | Rent on manufacturing equipment ($2,000/month) | ||||
2 | Insurance on manufacturing building ($750/month) | ||||
3 | Raw materials ($80/bicycle) | ||||
4 | Manufacturing utilities ($1,000/month) | ||||
5 | Office supplies ($800/month) | ||||
6 | Wages for workers ($30/bicycle) | ||||
7 | Depreciation on office equipment ($650/month) | ||||
8 | Miscellaneous materials ($1.20/bicycle) | ||||
9 | Property taxes on manufacturing building ($2,400/year) | ||||
10 | Manufacturing supervisor's salary ($3,000/month) | ||||
11 | Advertising cost (30,000/year) | ||||
12 | Sales commissions ($10/bicycle) | ||||
13 | Depreciation on manufacturing building ($1,500/month) | ||||
b) Compute total manufacturing costs for the month | |||||
Cost | |||||
Rent on manufacturing equipment | |||||
Insurance on manufacturing building | |||||
Raw materials | |||||
Manufacturing utilities | |||||
Labor | |||||
Miscellaneous materials | |||||
Property taxes on manufacturing building | |||||
Manufacturing supervisor's salary | |||||
Depreciation on manufacturing building | |||||
Total manufacturing costs | $ | ||||
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