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Kyrie Company produces different sizes of basketballs. The following costs were incurred during the year. Materials Labor P65,000 (P 15,000 is indirect) 70,000 (P 18,000 is indirect) 95,000 (including indirect materinls and indirect labor) · 2,600 18,600 Factory overhend General and administrative expenses Office salaries There were no work in process at the end of the year, 5,000 units were produced, and 90% of the units produced were sold Required: 1. Compute the prime costs 2. Compute the conversion costs 3. Compute the total product costs 4. Compute the total period costs 5. If the selling price is P50.00, how much is the net income

Kyrie Company produces different sizes of basketballs. The following costs were incurred during the year. Materials Labor P65,000 (P 15,000 is indirect) 70,000 (P 18,000 is indirect) 95,000 (including indirect materinls and indirect labor) · 2,600 18,600 Factory overhend General and administrative expenses Office salaries There were no work in process at the end of the year, 5,000 units were produced, and 90% of the units produced were sold Required: 1. Compute the prime costs 2. Compute the conversion costs 3. Compute the total product costs 4. Compute the total period costs 5. If the selling price is P50.00, how much is the net income

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 23E: Orinder Company provided the following information for the last calendar year: During the year,...
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If the selling price is 50.00, how much is the net income?

 

Kyrie Company produces different sizes of basketballs. The following costs were incurred during the year. Materials Labor Factory overhead P65,000 (P 15,000 is indirect) 70,000 (P 18,000 is indirect) 95,000 (including indirect materinls and indirect Iabor) · 2,600 18,600 General and administrative expenses Office salaries There were no work in process at the end of the year, 5,000 units were produced, and 90% of the units produced were sold Required: 1. Compute the prime costs 2. Compute the conversion costs 3. Compute the total product costs 4. Compute the total period costs 5. If the selling price is P50.00, how much is the net income
Transcribed Image Text:Kyrie Company produces different sizes of basketballs. The following costs were incurred during the year. Materials Labor Factory overhead P65,000 (P 15,000 is indirect) 70,000 (P 18,000 is indirect) 95,000 (including indirect materinls and indirect Iabor) · 2,600 18,600 General and administrative expenses Office salaries There were no work in process at the end of the year, 5,000 units were produced, and 90% of the units produced were sold Required: 1. Compute the prime costs 2. Compute the conversion costs 3. Compute the total product costs 4. Compute the total period costs 5. If the selling price is P50.00, how much is the net income
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