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Manufacturing Overhead: Total payments for manufacturing overhead Selling and Administrative Expenses: Total payments for Selling and Admin. expenses

Manufacturing Overhead: Total payments for manufacturing overhead Selling and Administrative Expenses: Total payments for Selling and Admin. expenses

FINANCIAL ACCOUNTING
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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Question 6. Please fill in the blanks in the same format as the question

Manufacturing Overhead: Total payments for manufacturing overhead Selling and Administrative Expenses: Total payments for Selling and Admin. expenses
Transcribed Image Text:Manufacturing Overhead: Total payments for manufacturing overhead Selling and Administrative Expenses: Total payments for Selling and Admin. expenses
Puckett Company has provided the following budget information for the first quarter of 2018: Additional data related to the first quarter of 2018 for Puckett Company: E (Click the icon to view the budget information.) (Click the icon to view the data.) Data Table Cash Payments First Quarter 2018 Total sales $ 216,000 Total direct materials purchases $ 40,600 Budgeted purchases of direct materials 40,600 Budgeted direct labor cost 36,800 Cash Payments Budgeted manufacturing overhead costs: Direct Materials: Variable manufacturing overhead 1,025 Accounts Payable balance, December 31, 2017 $ 16,500 Depreciation 1,000 1st Qtr.-Direct material purchases 20,300 Insurance and property taxes 6,650 36,800 Total payments for direct materials Budgeted selling and administrative expenses: Salaries expense 14,000 Direct Labor: Rent expense 2,500 Total payments for direct labor 36,800 Insurance expense 2,000 Depreciation expense 350 Supplies expense 4,320
Transcribed Image Text:Puckett Company has provided the following budget information for the first quarter of 2018: Additional data related to the first quarter of 2018 for Puckett Company: E (Click the icon to view the budget information.) (Click the icon to view the data.) Data Table Cash Payments First Quarter 2018 Total sales $ 216,000 Total direct materials purchases $ 40,600 Budgeted purchases of direct materials 40,600 Budgeted direct labor cost 36,800 Cash Payments Budgeted manufacturing overhead costs: Direct Materials: Variable manufacturing overhead 1,025 Accounts Payable balance, December 31, 2017 $ 16,500 Depreciation 1,000 1st Qtr.-Direct material purchases 20,300 Insurance and property taxes 6,650 36,800 Total payments for direct materials Budgeted selling and administrative expenses: Salaries expense 14,000 Direct Labor: Rent expense 2,500 Total payments for direct labor 36,800 Insurance expense 2,000 Depreciation expense 350 Supplies expense 4,320
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