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COST ACCOUNTING: Thai Trade, Inc. manufactures custom made stuffed animals. Last month, the company produced 700 stuffed pandas for the local zoo to sell at a fund-raising event. Using job order costing, determine the product unit cost of a stuffed panda based on the following costs incurred during the month: Manufacturing utilities $350 Depreciation on manufacturing equipment $300 Indirect materials $175 Direct materials $1150 Indirect labor $525 Direct labor $1350 Sales commissions $3000 Presidents salary $4000 Insurance on manufacturing plant $450 Advertising expense $500 Rent on manufacturing plant $2700 Rent on sales $4,000 $250 Legal expense Required: Compute product unit cost

COST ACCOUNTING: Thai Trade, Inc. manufactures custom made stuffed animals. Last month, the company produced 700 stuffed pandas for the local zoo to sell at a fund-raising event. Using job order costing, determine the product unit cost of a stuffed panda based on the following costs incurred during the month: Manufacturing utilities $350 Depreciation on manufacturing equipment $300 Indirect materials $175 Direct materials $1150 Indirect labor $525 Direct labor $1350 Sales commissions $3000 Presidents salary $4000 Insurance on manufacturing plant $450 Advertising expense $500 Rent on manufacturing plant $2700 Rent on sales $4,000 $250 Legal expense Required: Compute product unit cost

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
Chapter2: Job Order Costing
Section: Chapter Questions
Problem 3CMA: Lucy Sportswear manufactures a specialty line of T-shirts using a job order cost system. During...
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COST ACCOUNTING: Thai Trade, Inc. manufactures custom made stuffed animals. Last month, the company produced 700 stuffed pandas for the local zoo to sell at a fund-raising event. Using job order costing, determine the product unit cost of a stuffed panda based on the following costs incurred during the month: Manufacturing utilities $350 Depreciation on manufacturing equipment $300 Indirect materials $175 Direct materials $1150 Indirect labor $525 Direct labor $1350 Sales commissions $3000 Presidents salary $4000 Insurance on manufacturing plant $450 Advertising expense $500 Rent on manufacturing plant $2700 Rent on sales $4,000 $250 Legal expense Required: Compute product unit cost
Transcribed Image Text:COST ACCOUNTING: Thai Trade, Inc. manufactures custom made stuffed animals. Last month, the company produced 700 stuffed pandas for the local zoo to sell at a fund-raising event. Using job order costing, determine the product unit cost of a stuffed panda based on the following costs incurred during the month: Manufacturing utilities $350 Depreciation on manufacturing equipment $300 Indirect materials $175 Direct materials $1150 Indirect labor $525 Direct labor $1350 Sales commissions $3000 Presidents salary $4000 Insurance on manufacturing plant $450 Advertising expense $500 Rent on manufacturing plant $2700 Rent on sales $4,000 $250 Legal expense Required: Compute product unit cost
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