Denger Sunland Company incurred the following costs while manufacturing its product.Materials used in productDepreciation on plantProperty taxes on storeLabor costs of assembly-line workersFactory supplies used(a)Your answer is incorrect.Compute cost of goods manufactured.$127,100Cost of goods manufactured $64,8008,310116,50027,300Advertising expenseProperty taxes on plantDelivery expenseSales commissionsSalaries paid to sales clerks$49,900Work in process inventory was $13,200 at January 1 and $16,600 at December 31. Finished goods inventory was $70,200 at January1 and $47,000 at December 31.19,70031,60045,80060,700

THe cost of goods manufactured is calculated as follows:COGM = Beginning WIP + Total manufacturing…

Sunland Company incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used (a) Your answer is incorrect. Compute cost of goods manufactured. $127,100 Cost of goods manufactured $ 64,800 8,310 116,500 Advertising expense Property taxes on plant Delivery expense Sales commissions 27,300 Salaries paid to sales clerks $49,900 19,700 Work in process inventory was $13,200 at January 1 and $16,600 at December 31. Finished goods inventory was $70,200 at January 1 and $47,000 at December 31. 31,600 45,800 60,700

Sunland Company incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used (a) Your answer is incorrect. Compute cost of goods manufactured. $127,100 Cost of goods manufactured $ 64,800 8,310 116,500 Advertising expense Property taxes on plant Delivery expense Sales commissions 27,300 Salaries paid to sales clerks $49,900 19,700 Work in process inventory was $13,200 at January 1 and $16,600 at December 31. Finished goods inventory was $70,200 at January 1 and $47,000 at December 31. 31,600 45,800 60,700

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter1: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 4E: For apparel manufacturer Abercrombie Fitch, Inc. (ANF), classify each of the following costs as...

See similar textbooks

Similar questions

Which one of the following is not an example of a committed fıxed cost? a. None of the given answers. b. The salary of the deputy manager of customer call center. O c. The cost of the accounting system of the company. d. The property taxes of the factory plant. e. The depreciation cost of the Headquarters offices.
3. What information might Tanaka use to change two items in requirement 2 to be direct-cost items rather than manufacturing overhead cost items? Exercise 5 (Cost of goods manufactured and sold) Compute cost of goods manufactured and cost of goods sold from the following account balances relating to 20X1 (in thousands): Property tax on plant building Marketing, distribution, and customer- service costs Finished goods inventory, January 1, 20X1 Plant utilities Work in process inventory December 31, 20X1 Depreciation of plant building P 3,000 37,000 27,000 17,000 26,000 9,000
A Company that manufactures custom-made machinery routinely incurs sizable long distance telephone expenses in the process of taking sales orders from its customers. Which of the following is a proper classification of this expense? red d out of Select one: g question a. Manufacturing overhead. Ob. Period cost. Product cost. Od. conversion cost.
Required: Classify the following costs as period or traceable costs. Depreciation on office building Insurance expense for factory building Product liability insurance premium Transportation charges for raw materials Factory repairs and maintenance Rent for inventory warehouse Cost of raw materials Factory wages Salary to chief executive officer Depreciation on factory Bonus to factory workers Salary to marketing staff Administrative expenses Bad debt expense Advertising expense Research and development Warranty expense Electricity for plant
Classify the following costs as either production or non-production Depreciation of plant and machinery Warehouse wages Carriage outwards Direct material cost Classify the following costs as either direct or indirect Factory rent Factory workers wages Insurance of factory buildings Classify the following costs as either variable, fixed or mixed Landline telephone charges Factory manager salary salesmen commission based on number of products sold
A. Which of the following costs is not a product cost? Depreciation on the plant installed in the factory The electricity cost of the office of factory foreman The cost of shipping finished products to customers The cost of fuel used in the factory B. Which of the following costs is not a period cost? Advertising cost Sales commission Interest Direct labor C. Which of the following would not be classed as a service department? The maintenance department The canteen The finance department The assembly department D. Job costing is the most suitable method for? Oil processing units Transport Companies Sugar Industry Repair shops E. Paper mills are must adopt? Unit costing Process costing Job costing Contract costing
Identify each of the above costs as direct materials, direct labor, manufacturing overhead, or period costs. Bicycle components Depreciation on factory Property taxes on retail store Labor costs of assembly-line workers Factory supplies used Advertising expense Property taxes on factory Customer delivery expense Sales commissions Salaries paid to sales clerks > < <
Statement 1: Manufacturing overhead is an indirect cost with respect to units of product. Statement 2: Depreciation on office equipment would be included in the cost of goods manufactured. Statement 3: Rent on factory building used in the production process would be classified as a period cost and as a fixed cost. Statement 4: The amount that a manufacturing company could earn by renting out unused portion of its warehouse is an example of an opportunity cost. Statement 5: Internal failure costs result from identification of defects during the appraisal process such as scrap, rejected products, rework and downtime. a. All statements are true b. Statements 1, 3 and 5 c.Statements 1, 2 and 4 are true are true d. Statements 1, 4 and 5 are true e.Statements 2, 4 and 5 are true f. Statements 2, 3 and 4 are true
Below is a table showing the various costs incurred by various companies. In each column, indicate the proper classification and explanation of these costs. Write NA if not applicable. Costs Manufacturing (M) or Non-Manufacturing (NM) Direct Materials (DM), Direct Labor (DL) or Factory Overhead (FOH) General and Administrative (GA) or Marketing and Selling (MS) j. Salaries of plant supervisor k. Interest on bank loan l. Property tax on the production plant
which one of the following is not an example of a committed fixed cost a . The cost of the accounting system of the company . b. None of the given answers . c. The depreciation cost of the Headquarters offices . d . The property taxes of the factory plant . e. The salary of the deputy manager of customer call center .
Which of the following costs is not a product cost? *1 pointa. Depreciation on the plant installed in the factoryb. The electricity cost of the office of factory foremanc. The cost of shipping finished products to customersd. The cost of fuel used in the factory
Trak Corporation incurred the following costs while manufacturing its bicycles. Bicycle components Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used $100,000 60,000 7,500 110,000 13,000 Advertising expense Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks $45,000 14,000 21,000 35,000 50,000