Crane incurred the following costs while manufacturing its product: Materials used in production, $144000; factory depreciation, $84000; property taxes on the administrative offices, $36000; labor costs of assembly-line workers, $119000; factory supplies used, $32000; advertising expense, $37000; property taxes on the factory, $44000; delivery expense, $47000; salaries of the sales staff, $77000; and sales commissions, $41000. The total product costs for Crane are O $583000. O $459000. O $661000. $423000.
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- Ryan Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used Instructions $100,000 60,000 7,500 110,000 13,000 Advertising expense Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks $45,000 14,000 21,000 35,000 50,000 (a) Identify each of the above costs as direct materials, direct labor, manufacturing overhead, or period costs. (b) Explain the basic difference in accounting for product costs and period costs.Cullumber Corporation incurred the following costs while manufacturing its product: Materials used in product Depreciation on plant Property taxes on warehouse Labour costs of assembly-line workers Factory supplies used Calculate the cost of goods manufactured. Cost of goods manufactured $120,100 $ 65,000 8,430 110,000 25,500 Advertising expense Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks $45,250 19,300 21,700 Work in process inventory was $10,600 at January 1 and $14,600 at December 31. Finished goods inventory was $60,600 at January 1 and $51,300 at December 31. 35,300 50,100The company's expenses during the above period were: depreciation = 1500, exhibition expenses = 800, factory insurance premiums = 650, administrative employees' fees=22000, depreciation of factory machinery = 1400, rent=6500, salesmen's travel expenses = 1500, factory warden salaries = 2200, cleaning costs = 450, subscriptions = 150, maintenance costs = 320, indirect production materials = 750, factory maintenance costs = 1100, advertising costs = 5100, salaries of salesmen = 10000, utility costs = 4800, sample costs = 650, indirect work = 3600, interest debit & related financial expenses = 750, foreman salaries = 4100, other promotion costs = 390, lawyers' fee = 10000, accountants' fee = 11000, miscellaneous production consumables = 900. Prepare the cost report and profit and loss statement
- The company's expenses during the above period were: depreciation = 1500, exhibition expenses = 800, factory insurance premiums = 650, administrative employees' fees=22000, depreciation of factory machinery = 1400, rent=6500, salesmen's travel expenses = 1500, factory warden salaries = 2200, cleaning costs = 450, subscriptions = 150, maintenance costs = 320, indirect production materials = 750, factory maintenance costs = 1100, advertising costs = 5100, salaries of salesmen = 10000, utility costs = 4800, sample costs = 650, indirect work = 3600, interest debit & related financial expenses = 750, foreman salaries = 4100, other promotion costs = 390, lawyers' fee = 10000, accountants' fee = 11000, miscellaneous production consumables = 900. How much are the total administrative costs?OweFlounder Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used (a) Compute cost of goods manufactured. $108,000 Cost of goods manufactured $ 54,000 6,750 99,000 20,900 Advertising expense Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks $40,500 12,700 18,800 Work in process inventory was $10,850 at January 1 and $13,900 at December 31. Finished goods inventory was $54,000 at January 1 and $41,000 at December 31. 31,500 45,000
- The accounting records of Summit Enterprises revealed the following selected costs: Sales commissions, $50,000; depreciation on factory equipment, $130,000; and administrative expenses, $140,000. What is Summit Enterprises' period costs total? The accounting records of Evergreen Corporations revealed the following selected costs: Sales commissions, $72,000; depreciation on office building, $90,000; and administrative expenses, $160,000. What is Evergreen Corporations' period costs total? The accounting records of Blue Horizon Ltd. revealed the following selected costs: Sales commissions, $45,000; advertising expenses, $100,000; and administrative expenses, $155,000. What is Blue Horizon Ltd.'s period costs total? The accounting records of Mountain Ridge Inc. revealed the following selected costs: Sales commissions, $60,000; insurance on factory machinery, $75,000; and administrative expenses, $180,000. What is Mountain Ridge Inc.'s period costs total? The accounting records of Sunset…Doofenshmirtz Inc. incurs the following costs: $760 for factory workers salaries$690 for direct materials$1270 for commissions$270 for factory supervisor salaries$1050 for depreciation on office equipment at the CEO headquarters$110 for paying a factory accountant$80 for indirect materials. What is the total period cost?Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs. Indirect labor amounted to $2,700 while indirect materials used totaled $1,600. Other operating costs included factory utilities of $3,100; maintenance on the factory of $4,500; factory supplies of $1,800; depreciation of the factory equipment of $7,900; and property taxes on the factory of $2,600. There was no beginning or ending finished goods inventory, but work in process inventory began the year with a $5,500 balance and ended the year with a $7,500 balance. What is the total overhead?
- The accounting records of Hilltop Ventures revealed the following selected costs: Sales commissions, $65,000; depreciation on factory equipment, $120,000; and administrative expenses, $175,000. What is Hilltop Ventures' period costs total?Revilla Corporation's manufacturing costs were as follows: Prime Costs P400,000 Straight-line depreciation of factory equipment P60,000 Straight-line depreciation of factory building P40,000 Janitor's salaries for cleaning factory premises P12,000 Salesmen's Commission based on sales P20,000 Straight-line depreciation of delivery van P15,000 1. How much of these costs should be inventoried for external reporting purposes?Swifty Corporation incurred the following costs while manufacturing its product. Materials used in product $128,200 Advertising expense $47,700 Depreciation on plant 64,500 Property taxes on plant 22,300 Property taxes on store 8,540 Delivery expense 27,800 Labor costs of assembly-line workers 119,000 Sales commissions 38,900 Factory supplies used 33,500 Salaries paid to sales clerks 58,000 Work in process inventory was $13,500 at January 1 and $17,200 at December 31. Finished goods inventory was $68,400 at January 1 and $47,700 at December 31. Compute cost of goods manufactured. Cost of goods manufactured %24