Steuben Company produces dog houses. During the current year, Steuben Company incurred the Following costs: Rent on manufacturing facility Office manager's salary Wages of factory machine operators Depreciation on manufacturing equipment Insurance and taxes on selling and administrative offices Direct materials purchased and used $116,000 65,000 45,000 15,000 5,000 75,000 Based on the above information, the amount of period costs shown on Steuben's income statement S

Steuben Company produces dog houses. During the current year, Steuben Company incurred the Following costs: Rent on manufacturing facility Office manager's salary Wages of factory machine operators Depreciation on manufacturing equipment Insurance and taxes on selling and administrative offices Direct materials purchased and used $116,000 65,000 45,000 15,000 5,000 75,000 Based on the above information, the amount of period costs shown on Steuben's income statement S

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)
Steuben Company produces dog houses. During the current year, Steuben Company Incurred the following costs: Rent on manufacturing facility Office manager's salary Wages of factory machine operators Depreciation on manufacturing equipment Multiple Choice Insurance and taxes on selling and administrative offices Direct materials purchased and used Based on the above information, the amount of perlod costs shown on Steuben's Income statement is: O $18,000 $96,000 $224,000 $ 128,000 78,000 58,000 $78,000 28,000 18,000 88,000
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