Help +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.

Analyzing Knight Company's Costsa. Total Manufacturing OverheadManufacturing overhead includes all…

Answered: + Knight Company reports the following…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter10: Accounting Systems For Manufacturing Operations

Section: Chapter Questions

Problem 10.11E

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Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Refer to Exercise 2.21. Last calendar year, Ellerson recognized revenue of 1,312,000 and had selling and administrative expenses of 204,600. Required: 1. What is the cost of goods sold for last year? 2. Prepare an income statement for Ellerson for last year.
Pattison Products, Inc., began operations in October and manufactured 40,000 units during the month with the following unit costs: Fixed overhead per unit = 280,000/40,000 units produced = 7. Total fixed factory overhead is 280,000 per month. During October, 38,400 units were sold at a price of 24, and fixed marketing and administrative expenses were 130,500. Required: 1. Calculate the cost of each unit using absorption costing. 2. How many units remain in ending inventory? What is the cost of ending inventory using absorption costing? 3. Prepare an absorption-costing income statement for Pattison Products, Inc., for the month of October. 4. What if November production was 40,000 units, costs were stable, and sales were 41,000 units? What is the cost of ending inventory? What is operating income for November?
Factory overhead costs During May, Bergan Company incurred factory overhead costs as follows: indirect materials, 8,800; indirect labor, 6,600; utilities cost, 4,800; and factory depreciation, 9,000. Journalize the entry to record the factory overhead incurred during May.
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Metlock 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 $13,300 10.870 3,340 Manufacturing overhead 42,120 69,440 118,480 7,000 Direct labor Sales salaries Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used Determine the total amount of manufacturing overhead.. $59,480 39,820 2.150 1,130 1,720 12.900 2,260 su
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 are Robin's prime costs? Multiple Choice O O O $60,800 $56,000 $75,200 $65.600 $ 24,000 36,800 19,200 4,800 9,600 14,400 6,400
Acme Incorporated incurs the following costs during July: $ 12,600 27,100 Sales expense Direct labor Factory supplies Advertising 3,600 3,900 19,100 Raw material used *80% of this amount relates to the factory. Required: Calculate Acme's total manufacturing costs for July. Total manufacturing cost Administrative expense Plant depreciation Indirect labor Utilities $ 55,300 $ 22,600 7,300 9,100 11,100-
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
Subject :- Accounting
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
Skysong 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: $17,500 14,370 4,740 56,120 91,840 157,680 9,800 Direct labor Sales salaries Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used $79,080 52,420 2,850 1,550 2,280 17,100 2,960

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