ptsT UousənONoteworthy, Inc., produces and sells small electronic keyboards. Assume that you have the following information aboutNoteworthy's costs for the most recent month.Depreciation on factory equipment$970Depreciation on CEO's company car240Speakers used in the keyboard1,170Production supervisor's salarY2,210Glue and screws used in the keyboards270Wages of persons who install the speakers2,930Cost to run an ad on local radio stations650Utilities for the factory1,380Personnel manager's salary2,630Wages of person who attaches legs to2,140keyboardsAnswer the following questions.1. Calculate the total product cost for Noteworthy.2. Calculate the prime cost for Noteworthy.3. Calculate the manufacturing overhead for Noteworthy.4. Calculate the direct labor for Noteworthy.5. Calculate the conversion cost for Noteworthy.EditFormat Table12ptvParagraph vBIUA2 T?

Conversion costs are those costs which are incurred by the company in order to convert the raw…

1. Calculate the total product cost for Noteworthy. 2. Calculate the prime cost for Noteworthy. 3. Calculate the manufacturing overhead for Noteworthy. 4. Calculate the direct labor for Noteworthy. 5. Calculate the conversion cost for Noteworthy.

1. Calculate the total product cost for Noteworthy. 2. Calculate the prime cost for Noteworthy. 3. Calculate the manufacturing overhead for Noteworthy. 4. Calculate the direct labor for Noteworthy. 5. Calculate the conversion cost for Noteworthy.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

pts
T UousənO
Noteworthy, Inc., produces and sells small electronic keyboards. Assume that you have the following information about
Noteworthy's costs for the most recent month.
Depreciation on factory equipment
$970
Depreciation on CEO's company car
240
Speakers used in the keyboard
1,170
Production supervisor's salarY
2,210
Glue and screws used in the keyboards
270
Wages of persons who install the speakers
2,930
Cost to run an ad on local radio stations
650
Utilities for the factory
1,380
Personnel manager's salary
2,630
Wages of person who attaches legs to
2,140
keyboards
Answer the following questions.
1. Calculate the total product cost for Noteworthy.
2. Calculate the prime cost for Noteworthy.
3. Calculate the manufacturing overhead for Noteworthy.
4. Calculate the direct labor for Noteworthy.
5. Calculate the conversion cost for Noteworthy.
Edit
Format Table
12pt
v
Paragraph v
BIUA
2 T?

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