+++Knight Company reports the following costs and expenses in May.Factory utilitiesDepreciation on factory equipment | 14,450Depreciation on delivery trucksIndirect factory laborIndirect materialsDirect materials usedFactory manager's salaryFrom the information:$17,200Direct laborSales salaries$70,40050,7004,100Property taxes on factory building | 3,00050,500Repairs to office equipment1,40081,600 Factory repairs2,230139,700 Advertising15,1008,700Office supplies used3,140a. Determine the total amount of manufacturing overhead.b. Determine the total amount of product costs.c. Determine the total amount of period costs.

Note 1Manufacturing overhead are indirect costs incurred in the production process that cannot be…

Answered: +++ Knight Company reports the…

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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K Rios Corporation reports costs for the year as follows: Direct Materials Used Wages to Line Workers Office Rent Indirect Materials Used How much is the total product costs for the year? A. $605,000 OB. $1,155,000 OC. $550,000 OD. $1,199,500 $430,000 120,000 44,500 605,000
Use the following data to compute total manufacturing costs for the month: Sales commissions Direct labor Indirect materials Factory utilities Indirect labor Depreciation-office equipment Direct materials Corporate office salaries Depreciation-factory equipment Multiple Choice $155,500. $136,100. $52,400. $ 12,600 41,400 17,000 10,800 15,300 6,800 42,300 44,300 9,300 < Prev Q Search 9 of 39
Find the period cost
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
Peacock Ltd.'s production cost for August are: Particulars Amount Direct Labor Indirect Labor Direct Materials Property Taxes on Production equipment Heat, Light and Power Insurance on Plant and Equipment 15,000 8,000 32,000 1,200 2,500 500 Calculate Peacock Ltd.'s factory overheads for August. a. Factory overheads for August are $21,500 b. Factory overheads for August are $12,200 c. Factory overheads for August are $27,200 d. Factory overheads for August are $30,000
Practice Problem 4: All-About-Us, Inc. has collected the following information for February: Purchases of direct materials Direct labor Indirect labor Depreciation on machinery Sales Selling expenses Rent on the factory building Direct materials and administrative $54,00 0 BB = = 31,200 15,000 9,000 165,00 0 18,900 21,000 $24,00 0 BB = 6,300 BB = 15,000 Work-in-Process Finished Goods Q1: Cost of Goods Manufactured for February = Q2: Cost of Goods Sold for February = Q3: Operating Income for February = EB= EB= EB $26,100 9,600 17,100
Compute the prime costs on these accounting question
Direct materials. Utilities, factory Administrative salaries Indirect labor Sales commissions. A partial listing of costs incurred at ABC Corporation during September appears below: Depreciation of production equipment Depreciation of administrative equipment Direct labor Advertising Multiple Choice The total of the manufacturing overhead costs listed above for September is: $586,000 $50,000 Saved $292,000 $30,000 $ 113,000 $5,000 $ 81,000 $ 25,000 $ 48,000 $ 20,000 $ 30,000 $ 129,000 $ 135,000 Save & Exit
9
Robin Company reported the following costs for the current month: Direct materials used Direct labor Sales salaries Indirect labor Production manager's salary Marketing costs Factory lease What is Robin's total manufacturing overhead? Multiple Choice O $14,400 $28,800 $20,800 $ 24,000 36,800 19,200 4,800 9,600 14,400 6,400 $33,600
Hh1. Account
Jackson Furniture Company provided the following manufacturing costs for the months of June Direct labor costs $120,000 62,000 Direct materials costs Equipment depreciation (straight-line) Factory insurance Factory manager's salary Janitor's salary Packaging costs Property taxes on the factory From the above information, calculate Jackson's total fixed costs. OA. $279,700 OB. $64,100 OC. $78,900 OD. $68,400 27,000 10,500 10,000 14,800 18,800 16,600

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