Instructions: a) Enter each cost item on your answer sheet, placing an "X" mark under the appropriate headings. Direct Materials Direct Labor Manufacturing Overhead Period Costs 1 Rent on manufacturing equipment ($2,000/month) 2 Insurance on manufacturing building ($750/month) 3 Raw materials ($80/bicycle) 4 Manufacturing utilities ($1,000/month) 5 Office supplies ($800/month) 6 Wages for workers ($30/bicycle) 7 Depreciation on office equipment ($650/month) 8 Miscellaneous materials ($1.20/bicycle) 9 Property taxes on manufacturing building ($2,400/year) 10 Manufacturing supervisor's salary ($3,000/month) 11 Advertising cost (30,000/year) 12 Sales commissions ($10/bicycle) 13 Depreciation on manufacturing building ($1,500/month) b) Compute total manufacturing costs for the month Cost Rent on manufacturing equipment Insurance on manufacturing building Raw materials Manufacturing utilities Labor Miscellaneous materials Property taxes on manufacturing building Manufacturing supervisor's salary Depreciation on manufacturing building Total manufacturing costs $

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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Instructions:
a) Enter each cost item on your answer sheet, placing an "X" mark under the appropriate headings.

		Direct Materials	Direct Labor	Manufacturing Overhead	Period Costs
1	Rent on manufacturing equipment ($2,000/month)
2	Insurance on manufacturing building ($750/month)
3	Raw materials ($80/bicycle)
4	Manufacturing utilities ($1,000/month)
5	Office supplies ($800/month)
6	Wages for workers ($30/bicycle)
7	Depreciation on office equipment ($650/month)
8	Miscellaneous materials ($1.20/bicycle)
9	Property taxes on manufacturing building ($2,400/year)
10	Manufacturing supervisor's salary ($3,000/month)
11	Advertising cost (30,000/year)
12	Sales commissions ($10/bicycle)
13	Depreciation on manufacturing building ($1,500/month)


b) Compute total manufacturing costs for the month
		Cost
	Rent on manufacturing equipment
	Insurance on manufacturing building
	Raw materials
	Manufacturing utilities
	Labor
	Miscellaneous materials
	Property taxes on manufacturing building
	Manufacturing supervisor's salary
	Depreciation on manufacturing building

	Total manufacturing costs	$




		Direct Materials	Direct Labor	Manufacturing Overhead	Period Costs
1	Rent on manufacturing equipment ($2,000/month)
2	Insurance on manufacturing building ($750/month)
3	Raw materials ($80/bicycle)
4	Manufacturing utilities ($1,000/month)
5	Office supplies ($800/month)
6	Wages for workers ($30/bicycle)
7	Depreciation on office equipment ($650/month)
8	Miscellaneous materials ($1.20/bicycle)
9	Property taxes on manufacturing building ($2,400/year)
10	Manufacturing supervisor's salary ($3,000/month)
11	Advertising cost (30,000/year)
12	Sales commissions ($10/bicycle)
13	Depreciation on manufacturing building ($1,500/month)


b) Compute total manufacturing costs for the month
		Cost
	Rent on manufacturing equipment
	Insurance on manufacturing building
	Raw materials
	Manufacturing utilities
	Labor
	Miscellaneous materials
	Property taxes on manufacturing building
	Manufacturing supervisor's salary
	Depreciation on manufacturing building

	Total manufacturing costs	$

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