Direct materials$190,000Direct labor (5000 hours@ $9hour)45,00018,00025,00023,500Indirect laborPlant facility rentDepredation on plant machinery and equipmentSales commisions24,000Administrative expenses39,000amount of manufacturing overhead allocated to all jobs during June 2014 totals

Name: Direct materials$190,000Direct labor (5000 hours@ $9hour)45,00018,000
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Direct materials$190,000Direct labor (5000 hours@ $9hour)45,00018,00025,00023,500Indirect laborPlant facility rentDepredation on plant machinery and equipmentSales commisions24,000Administrative expenses39,000amount of manufacturing overhead allocat

Formula: Manufacturing overhead = Indirect labor + Plant facility rent + Depreciation on plant…

Business

Accounting

Direct materials Direct labor (5000 hourse $9hour) Indirect labor Plant facility rent Depredation on plant machinery and equipment $190,000 45,000 18,000 25,000 23,500 Sales commissions 24,000 Administrative expenses 39,000

Direct materials Direct labor (5000 hourse $9hour) Indirect labor Plant facility rent Depredation on plant machinery and equipment $190,000 45,000 18,000 25,000 23,500 Sales commissions 24,000 Administrative expenses 39,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Schwiesow Corporation has provided the following information: Variable manufacturing overhead Fixed manufacturing overhead $5.10 $1.80 Direct materials Direct labor Sales commissions $1.00 Variable administrative expense $0.40 Fixed selling and administrative expense $ 5,500 If the selling price is $18.70 per unit, the contribution margin per unit sold is closest to: $4.30 $8.15 Cost per Unit Cost per Period $7.05 $ 3.50 $1.65 $ 11,000
18. Cha Company reported the following costs: Direct materials-beginning 130,000 Direct materials-ending 68,000 246,000 Finished goods-beginning Finished goods-ending Work-in-process-beginning Work-in-process-ending 204,000 168,000 144,000 Advertising costs Leasing costs-plant Depreciation-plant equip. Property taxes-plant Utilities-plant Utilities-administration Direct material purchases Indirect manufacturing labor Direct manufacturing labor Sales salaries Administration costs 48,000 $ 64,000 224,000 28,000 24,000 20,000 256,000 96,000 212,000 124,000 68,000 Using the data above, prepare Cha Company's Schedule of Cost of Goods Manufactured. Show your work for partial credit.
Assume that a manufacturing company incurred the following costs: $ 90,000 $ 40,000 $ 35,000 $ 15,000 $ 4,000 $ 5,000 $ 20,000 $ 1,000 $ 2,500 $ 105,000 $ 6,000 $ 7,000 Direct labor Advertising Factory supervision Sales commissions Depreciation, office equipment Indirect materials Depreciation, factory building Administrative office salaries Utilities, factory Direct materials Insurance, factory Property taxes, factory What is the total amount of conversion costs?
Factory maintenance costs $90,000 Direct labor, wages 352,000 Direct labor, health insurance 32,000 Indirect labor, health insurance 15,000 Health insurance for production supervisor 6,500 Administrative costs 55,000 Rental of office space for administrative staff 17,500 Sales commissions 52,500 Direct material 1,230,000 Indirect materials 632,000 Advertising expense 39,000 Depreciation on factory building 62,000 Indirect labor, wages 70,000 Production supervisor's salary 32,000 Use the data to determine the total product cost.
Sales (17,500 units) $1,750,000 Production costs (23,000 units): Direct materials $851,000 Direct labor 409,400 Variable factory overhead 204,700 Fixed factory overhead 135,700 1,600,800 Selling and administrative expenses: Variable selling and administrative expenses $248,100 Fixed selling and administrative expenses 96,000 344,100 If required, round interim per-unit calculations to the nearest cent. *** I only need assistance with the ones that are blank. Could you also leave the steps on how to solve it, please? a. Prepare an income statement according to the absorption costing concept. Shawnee Motors Inc. Absorption Costing Income Statement For the Month Ended August 31 Sales $1750000 Cost of goods sold Gross profit $ Selling and administrative expenses 344100 Income from operations $ b. Prepare an income statement according to the variable costing concept. Shawnee Motors Inc.…
Tyra Toy Company incurred the following costs during 20x1: Direct Materials ₱ 5,000,000 Direct Labor 3,500,000 Manufacturing Overhead Utilities (primarily electricity) 250,000 Depreciation Plant and Equipment 350,000 Insurance 260,000 Supervisory Salary 470,000 Property Taxes 330,000 Selling Cost: Advertising 315,000 Sales Commission 145,000 Administrative Costs: Salaries of top management 580,000 Office Supplies 70,000 Depreciation on Building and Equipment 140,000 The company sold all of its products manufactured during the year. Depreciation is on a straight-line basis. During 20x1, the company operated at about half of its capacity, due to a slowdown in the economy. Prospects for 20x2 are slightly better. The marketing manager, forecasts a 30 percent growth in sales over the 20x1 level.…
Loring Company incurred the following costs last year: Direct materials$216,000Sales salaries$65,000Factory rent24,000Advertising37,000Direct labor120,000Depreciation on the headquarters building10,000Factory utilities6,300Salary of the corporate receptionist30,000Supervision in the factory50,000Other administrative costs175,000Indirect labor in the factory30,000Salary of the factory receptionist28,000Depreciation on factory equipment9,000Sales commissions27,000 Required: Classify each of the costs using the following table format. Be sure to total the amounts in each column. Example: Direct materials, $216,000. Product CostPeriod CostCostsDirect MaterialsDirect LaborManufacturing OverheadSelling ExpenseAdministrative ExpenseDirect materials$216,000 What was the total product cost for last year? What was the total period cost for last year? If 30,000 units were produced last year, what was the unit product cost?
Related data of Charlene Company: Direct materials P385,000 Direct labor 318,900 Indirect materials 12,500 Other factory expenses 35,400 Selling expenses 125,000 Administrative expenses 85,000 Depreciation expense - Head office 20,000 Depreciation expense - Factory 30,000 Salaries expense - Head office 350,000 Salaries expense - Factory officers 200,000 How much is the total period costs?
A partial listing of costs incurred at Backer Corporation during November appears below: Direct materials $157,000 Direct labor Manufacturing Overhead Selling Expenses Administrative Expenses 114,000 77,000 145,000 99,000 Calculate the total conversion costs for the month: Question 6 options: $234,000 $191,000 $271,000 $244,000 $348,000
September 1, purchased raw materials ($120 million direct materials, $10 million indirect materials) for $130 million cash September 2, moved all the raw material into production. September 22 the company records applied overhead at the rate of 80% of direct material costs September 29, paid cash for manufacturing labor services, $220 million ($200 million direct labor and $20 million indirect labor). September 30, actual costs of other overhead items was calculated to be $76 million. September 30, all the goods charged into production were completed and moved to Finished Goods Inventory Account. September 30, 95% of the completed goods were sold for cash at a markup of 15 % of the cost before adjusting for over or under applied overhead costs. i need only journal.
DJV Corporation incurred the following costs while manufacturing its product. Materials used in product $ 120,000 Advertising expense $45,000 Depreciation on plant 60,000 Property taxes on plant 19,000 Property taxes on store 7,500 Delivery expense 21,000 Labor costs of assembly-line workers 110,000 Sales commissions 35,000 Factory supplies used 23,000 Salaries paid to sales clerks 50,000 Work-in-process inventory was $22,000 at January 1 and $15,500 at December 31. Finished goods inventory was $65,000 at January 1 and $50,600 at December 31. Instructions Compute cost of goods manufactured. Compute cost of goods sold.
Davis Corporation reported the following for the month of November: Total hourly wages of plant workers ₱080,000 Advertising 134,000 Sales Commission 40,000 Depreciation of machine used in production 28,000 Depreciation of administrative equipment 27,000 Indirect Labor 25,000 Administrative Salaries 95,000 Utilities, factory 11,000 Direct Materials 200,000 Freight Out 20,000 What is the total inventoriable costs for November? Show solution Group of answer choices ₱344,000 ₱364,000 ₱296,000 ₱316,000