1.4 Use this statement to calculate the total cost of general industrial costs Glue for eyeglass frames 250 Depreciation of company cars 4000 Factory depreciation 7500 Interest costs 1500 Lenses 52000 Salary of the president of the company 24500 Foreman's salary 3500 Gardener's salary 1300 Construction equipment oil 150
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1.4 Use this statement to calculate the total cost of general industrial costs
|
Glue for eyeglass frames |
250 |
|
|
4000 |
|
Factory depreciation |
7500 |
|
Interest costs |
1500 |
|
Lenses |
52000 |
|
Salary of the president of the company |
24500 |
|
Foreman's salary |
3500 |
|
Gardener's salary |
1300 |
|
Construction equipment oil |
150 |
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Solved in 2 steps
- Refer to the following data to answer the question: Direct material used Selling costs Indirect labour Administrative costs Depreciation on factory equipment Direct labour Overtime premiums paid Indirect materials The prime costs are: Select one: O a. $142 000. O b. $40 000. O c. $150 000. O d. $190 000. $ 150 000 $ 5.000 $ 7.000 $ $ $ Ent tit. $ $ Eft 10 000 70 000 40 000 20 000 45 000Waterway Industries has beginning and ending work in process inventories of $120000 and $135000 respectively. If total manufacturing costs are $680000, what is the total cost of goods manufactured? • A. $665000. • B. $815000. • C. S695000. D. s800000.A
- Identify cost graphs The following cost graphs illustrate various types of cost behavior: For each of the following costs, identify the cost graph that best illustrates its cost behavior as the number of units produced increases. a. Direct material cost per unit. b. Fees for using a patent of $500,000 plus $0.25 for each unit produced. c. Salary of quality control supervisor. d. Straight-line depreciation per unit on factory equipment. e. Total direct materials cost.Compute for throughput time Compute for Value added time4. Which of the following costs are variable, fixed, or mixed costs? Units of Output Direct materials Workers' wages Supervisors' salaries Equipment depreciation Maintenance 30,000 Units P 180,000 1,080,000 312,000 151,200 81,600 384,000 P2,188,800 42,000 Units P 252,000 1,512,000 312,000 151,200 110,400 528,000 P2,865,600 Utilities Total
- What was the cost of good manufactured?15. The Logicom Company reports the following information: Sales Direct materials used Depreciation on factory equipment Indirect labor Direct labor Factory rent Factory utilities Sales salaries expense Office salaries expense Indirect materials Product costs are A. $35,000 B. $29,200 C. $30,300 D. $24,500 $76,500 7,300 4,700 5,900 10,500 4,200 1,200 15,600 8,900 1,200Problem 7-16 (Algo) Comparing Traditional and Activity-Based Product Margins [LO7-1, L07-3, LO7-4, LO7-5] Hi-Tek Manufacturing, Inc., makes two types of industrial component parts-the B300 and the T500. An absorption costing income statement for the most recent period is shown: Hi-Tek Manufacturing Inc. Income Statement $ 1,657,500 1,224,620 432,880 620,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating loss $4 (187,120) Hi-Tek produced and sold 60,500 units of B3o0 at a price of $19 per unit and 12,700 units of T500 at a price of $40 per unit. The company's traditional cost system allocates manufacturing overhead to products using a plantwide overhead rate and direct labor dollars as the allocation base. Additional information relating to the company's two product lines is shown below: в300 T500 Total Direct materials $ 400,600 $ 120,400 $ 162,700 $ 42,000 563,300 162,400 498,920 Direct labor Manufacturing overhead Cost of goods sold $…
- 1.21 Use the following information for a manufacturer to calculate the cost of goods produced and sold: Remainder Original Final Immediate materials 27000 28000 Stocks of semi-finished goods 40000 32000 Stock of finished goods 18000 25000 Other information Purchase of direct materials 73000 Instant work 88000 General industrial expenses 43000Materials used = $ 500000 Rent for the office is $ 100000 Indirect materials used = $ 515000 Wages to workers are $ 260000 , what will the product cost?rr