7. A partial listing of costs incurred at Majan Corporation during July appears below: Direct labor $3,000 $500 Sales commissions CEO salary Indirect Materials $1,000 $2,000 $1,500 $800 Electricity cost of headquarter Depreciation of factory equipment Depreciation of administrative equipment Rent of factory Property taxes on the factory Cleaners' salary, administrative building $900 $1,500 $400 $500 The total of the period costs listed above for July is: A. $4,300 B. $4,400 C. $4,900 D. $5,600.|
7. A partial listing of costs incurred at Majan Corporation during July appears below: Direct labor $3,000 $500 Sales commissions CEO salary Indirect Materials $1,000 $2,000 $1,500 $800 Electricity cost of headquarter Depreciation of factory equipment Depreciation of administrative equipment Rent of factory Property taxes on the factory Cleaners' salary, administrative building $900 $1,500 $400 $500 The total of the period costs listed above for July is: A. $4,300 B. $4,400 C. $4,900 D. $5,600.|
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Solve questions 7,9,10 with steps please.
Transcribed Image Text:7. A partial listing of costs incurred at Majan Corporation during July appears below:
Direct labor
$3,000
Sales commissions
$500
CEO salary
Indirect Materials
$1,000
$2,000
$1,500
$800
Electricity cost of headquarter
Depreciation of factory equipment
Depreciation of administrative equipment
Rent of factory
Property taxes on the factory
Cleaners' salary, administrative building
$900
$1,500
$400
$500
The total of the period costs listed above for July is:
A. $4,300
B. $4,400
C. $4,900
D. $5,600.
Transcribed Image Text:9. Muscat company, reported the following results for January:
Number of units
10,000
Selling price
Total Variable selling expense
Total Variable administrative expense
Total fixed selling expense
Total fixed administrative expense
Merchandise Beginning
$10
$7,000
$10,000
$20,000
$8,000
$5,000
$50,000
$10,000
Based on traditional income statement Muscat company's net profit will be?
Merchandise Purchase
Merchandise Ending
A. $10,000
B. $15,000
C. $55,000
D. $18,000
10. Which of the following statement is correct about managerial accounting?
A. Its prepared on annual basis.
B. Creditors are considered one of the users of managerial accounting information.
C. Data of managerial accounting is departmental focused.
D. Managerial accounting information needs to be accurate.
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