### Question 11Hindenburger, Inc., began operations on January 1. It made 5,000 burgers and sold 4,000 of them. Hindenburger incurred the following costs:| Cost Description | Amount ($) ||----------------------------------------|------------|| Raw materials | 7,000 || Wages of production workers | 5,000 || Rent for corporate headquarters | 5,000 || Depreciation on manufacturing equipment| 3,000 || Commissions paid to salespeople | 4,000 |#### Task:Calculate the Total Product Cost for the year ended December 31. To calculate the Total Product Cost, sum the costs of all production-related activities. Non-production related expenses, such as rent for corporate headquarters and sales commissions, are typically not included in the product cost.The relevant production costs are:- Raw materials: $7,000- Wages of production workers: $5,000- Depreciation on manufacturing equipment: $3,000Total Product Cost = Raw materials + Wages of production workers + Depreciation on manufacturing equipment = $7,000 + $5,000 + $3,000 = $15,000

Total product cost includes a total direct cost. It includes direct material, direct wages, and…

Hindenburger, Inc., began operations on January 1. It made 5,000 burgers and sold 4,000 of them. Hindenburger incurred the following costs: $7,000 5,000 5,000 3,000 4,000 Raw materials Wages of production workers Rent for corporate headquarters Depreciation on manufacturing equipment Commissions paid to sales people Calculate the Total Product Cost for the year ended December 31.

Hindenburger, Inc., began operations on January 1. It made 5,000 burgers and sold 4,000 of them. Hindenburger incurred the following costs: $7,000 5,000 5,000 3,000 4,000 Raw materials Wages of production workers Rent for corporate headquarters Depreciation on manufacturing equipment Commissions paid to sales people Calculate the Total Product Cost for the year ended December 31.

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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