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The Kyle Manufacturing Company produces various types of fertilizers. No beginning work in process or finished goods were on hand on January 1, 2009. 30,000 finished goods were on hand on December 31, 2009 and 95,000 units were sold during the year. There were no units in work in process inventories on December 31, 2009. The material put into production cost 300,000, 75% were direct materials. There was no beginning or ending material inventories. Labor costs were 350,000, 40% was for indirect labor. Factory overhead costs other than indirect materials and indirect labor were the following: Heat, light and water Depreciation Property Taxes Repairs and Maintenance 120,000 75,000 65,000 40,000 Selling Expenses were 80,0o00, general and administrative expenses were 50,000.

The Kyle Manufacturing Company produces various types of fertilizers. No beginning work in process or finished goods were on hand on January 1, 2009. 30,000 finished goods were on hand on December 31, 2009 and 95,000 units were sold during the year. There were no units in work in process inventories on December 31, 2009. The material put into production cost 300,000, 75% were direct materials. There was no beginning or ending material inventories. Labor costs were 350,000, 40% was for indirect labor. Factory overhead costs other than indirect materials and indirect labor were the following: Heat, light and water Depreciation Property Taxes Repairs and Maintenance 120,000 75,000 65,000 40,000 Selling Expenses were 80,0o00, general and administrative expenses were 50,000.

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 3CMA: Kimbeth Manufacturing uses a process cost system to manufacture dust density sensors for the mining...
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Compute the following: - Cost of goods manufactured . Product Cost Prime Cost . Conversion Cost . Period Cost
Transcribed Image Text:Compute the following: - Cost of goods manufactured . Product Cost Prime Cost . Conversion Cost . Period Cost
The Kyle Manufacturing Company produces various types of fertilizers. No beginning work in process or finished goods were on hand on January 1, 2009. 30,000 finished goods were on hand on December 31, 2009 and 95,000 units were sold during the year. There were no units in work in process inventories on December 31, 2009. The material put into production cost 300,000, 75% were direct materials. There was no beginning or ending material inventories. Labor costs were 350,000, 40% was for indirect labor. Factory overhead costs other than indirect materials and indirect labor were the following: Heat, light and water Depreciation Property Taxes Repairs and Maintenance 120,000 75,000 65,000 40,000 Selling Expenses were 80,000, general and administrative expenses were 50,000.
Transcribed Image Text:The Kyle Manufacturing Company produces various types of fertilizers. No beginning work in process or finished goods were on hand on January 1, 2009. 30,000 finished goods were on hand on December 31, 2009 and 95,000 units were sold during the year. There were no units in work in process inventories on December 31, 2009. The material put into production cost 300,000, 75% were direct materials. There was no beginning or ending material inventories. Labor costs were 350,000, 40% was for indirect labor. Factory overhead costs other than indirect materials and indirect labor were the following: Heat, light and water Depreciation Property Taxes Repairs and Maintenance 120,000 75,000 65,000 40,000 Selling Expenses were 80,000, general and administrative expenses were 50,000.
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