Knight Company reports the following costs and expenses in May. Factory utilities $17,000 Direct labor $72,000 Depreciation on factory equipment 13,950 Sales salaries 47,500 Property taxes on factory building Depreciation on delivery trucks 4,700 2,600 Indirect factory labor 49,900 Repairs to office equipment 1,900 Indirect materials 82,600 Factory repairs 2,350 Direct materials used 141,700 Advertising 15,500 Factory manager's salary 8,300 Office supplies used 2,790

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Knight Company reports the following costs and expenses in May.
Factory utilities
$17,000 Direct labor
$72,000
Depreciation on factory
equipment
13,950 Sales salaries
47,500
Property taxes on factory
building
Depreciation on delivery trucks
4,700
2,600
Indirect factory labor
49,900 Repairs to office equipment
1,900
Indirect materials
82,600 Factory repairs
2,350
Direct materials used
141,700 Advertising
15,500
Factory manager's salary
8,300 Office supplies used
2,790
Transcribed Image Text:Knight Company reports the following costs and expenses in May. Factory utilities $17,000 Direct labor $72,000 Depreciation on factory equipment 13,950 Sales salaries 47,500 Property taxes on factory building Depreciation on delivery trucks 4,700 2,600 Indirect factory labor 49,900 Repairs to office equipment 1,900 Indirect materials 82,600 Factory repairs 2,350 Direct materials used 141,700 Advertising 15,500 Factory manager's salary 8,300 Office supplies used 2,790
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