SalesCOGSGross marginOperating expensesOperating income(a)With the weekly management meeting just an hour away, Tarin, the accountant, was scrambling to reproduce the key cost informationneeded. She was in a tight spot, though, because the computerized system was down. All she had was a printout of the incomestatement above and the following notes and subtotals scribbled on some scratch paper.Direct materials $*No beg. or end. inventoriesTotal DL cost (payroll) $7,900*Total advertising cost $1,400Total MOH cost $12,800Total executive/administrative salaries $4,200Period costsProduct costs$49,100X Your answer is incorrect.Total expenses32,400Based on the information presented, determine how much the company incurred for the following costs this month: directmaterials, period costs, product costs, and total expenses.$16,700$9,500$$7,20032,4005,60020,70026,300

Cost of Goods sold is the total of direct material , direct labour and manufacturing overheadPeriod…

e weekly management meeting just an hour away, Tarin, the accountant, was scrambling to reproduce the ke She was in a tight spot, though, because the computerized system was down. All she had was a printout of t nt above and the following notes and subtotals scribbled on some scratch paper.

e weekly management meeting just an hour away, Tarin, the accountant, was scrambling to reproduce the ke She was in a tight spot, though, because the computerized system was down. All she had was a printout of t nt above and the following notes and subtotals scribbled on some scratch paper.

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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Question

Sales
COGS
Gross margin
Operating expenses
Operating income
(a)
With the weekly management meeting just an hour away, Tarin, the accountant, was scrambling to reproduce the key cost information
needed. She was in a tight spot, though, because the computerized system was down. All she had was a printout of the income
statement above and the following notes and subtotals scribbled on some scratch paper.
Direct materials $
*No beg. or end. inventories
Total DL cost (payroll) $7,900
*Total advertising cost $1,400
Total MOH cost $12,800
Total executive/administrative salaries $4,200
Period costs
Product costs
$49,100
X Your answer is incorrect.
Total expenses
32,400
Based on the information presented, determine how much the company incurred for the following costs this month: direct
materials, period costs, product costs, and total expenses.
$
16,700
$
9,500
$
$7,200
32,400
5,600
20,700
26,300

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