**Tamarisk Company: Costs and Expenses Report for May**The following data outlines the costs and expenses reported by Tamarisk Company for the month of May:- **Factory Utilities**: $14,800- **Depreciation on Factory Equipment**: $12,120- **Depreciation on Delivery Trucks**: $3,840- **Indirect Factory Labor**: $47,120- **Indirect Materials**: $77,440- **Direct Materials Used**: $132,480- **Factory Manager’s Salary**: $8,000- **Direct Labor**: $66,480- **Sales Salaries**: $44,320- **Property Taxes on Factory Building**: $2,400- **Repairs to Office Equipment**: $1,280- **Factory Repairs**: $1,920- **Advertising**: $14,400- **Office Supplies Used**: $2,510**Summary Note**: This report provides a detailed overview of the various operational costs incurred by Tamarisk Company, which include both fixed and variable expenses across different categories such as manufacturing, labor, and administrative costs. **Determine the total amount of period costs.**- **Period costs:** $ [_______]*Explanation:*Period costs are expenses that are not directly tied to the production of goods or services. These can include administrative and selling expenses, marketing costs, and other non-manufacturing costs. Unlike product costs, which are associated directly with production, period costs are expensed on the income statement during the period in which they are incurred.For educational purposes, learners are encouraged to identify and categorize different costs within a business to determine their impact on financial statements.

Name: **Tamarisk Company: Costs and Expenses Report for May**The following
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Description: **Tamarisk Company: Costs and Expenses Report for May**The following data outlines the costs and expenses reported by Tamarisk Company for the month of May:- **Factory Utilities**: $14,800- **Depreciation on Factory Equipment**: $12,120- **Depreciat

Indirect Cost :— It is the cost that are not directly incurred in the manufacturing of product. Period Cost :— It is the cost that are unrelated to the manufacturing of product during the period. Example:- Selling and Administrative overhead, general overhead, etc. Working Note #:— Depreciation on delivery trucks $3,840 Sales Salaries $44,320 Repairs to office equipment $1,280 Advertising $14,400 Office Supplies Used $2,510 Total Period Cost $66,350Hence, total period cost is $66,350

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Current Attempt in Progress Tamarisk Company reports the following costs and expenses in May. Factory utilities Depreciation on factory equipment Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary From the information: $14,800 12,120 3,840 47.120 77,440 132,480 8,000 Direct labor Sales salaries Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used $66,480 44,320 2,400 1,280 1,920 14,400 2,510

Current Attempt in Progress Tamarisk Company reports the following costs and expenses in May. Factory utilities Depreciation on factory equipment Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary From the information: $14,800 12,120 3,840 47.120 77,440 132,480 8,000 Direct labor Sales salaries Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used $66,480 44,320 2,400 1,280 1,920 14,400 2,510

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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