Marin Company specializes in manufacturing a unique model of bicycle helmet. The model is well accepted by consumers, and the company has enough orders to keep the factory production at 10,000 helmets per month (80% of its full capacity). Marin’s monthly manufacturing costs and other expense data are as follows. Rent on factory equipment $11,500 Insurance on factory building 1,600 Raw materials used (plastics, polystyrene, etc.) 84,000 Utility costs for factory 910 Supplies used for general office 340 Wages for assembly-line workers 62,900 Depreciation on office equipment 890 Miscellaneous materials used (glue, thread, etc.) 1,400 Factory manager’s salary 6,200 Property taxes on factory building 430 Advertising for helmets 14,500 Sales commissions 10,720 Depreciation on factory building 1,660 Enter each cost item on your answer sheet, placing the dollar amount under the appropriate headings. Total the dollar amounts in each of the columns. Product Costs Cost Item Direct Materials Direct Labor Manufacturing Overhead Period Costs Rent on factory equipment $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount Insurance on factory building enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Raw materials used (plastics, polystyrene, etc.) enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Utility costs for factory enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Supplies for general office enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Wages for assembly-line workers enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Depreciation on office equipment enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Miscellaneous materials used (glue, thread, etc.) enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Factory manager’s salary enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Property taxes on factory building enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Advertising for helmets enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Sales commissions enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Depreciation on factory building enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount $enter a total amount for this column $enter a total amount for this column $enter a total amount for this column

Marin Company specializes in manufacturing a unique model of bicycle helmet. The model is well accepted by consumers, and the company has enough orders to keep the factory production at 10,000 helmets per month (80% of its full capacity). Marin’s monthly manufacturing costs and other expense data are as follows. Rent on factory equipment $11,500 Insurance on factory building 1,600 Raw materials used (plastics, polystyrene, etc.) 84,000 Utility costs for factory 910 Supplies used for general office 340 Wages for assembly-line workers 62,900 Depreciation on office equipment 890 Miscellaneous materials used (glue, thread, etc.) 1,400 Factory manager’s salary 6,200 Property taxes on factory building 430 Advertising for helmets 14,500 Sales commissions 10,720 Depreciation on factory building 1,660 Enter each cost item on your answer sheet, placing the dollar amount under the appropriate headings. Total the dollar amounts in each of the columns. Product Costs Cost Item Direct Materials Direct Labor Manufacturing Overhead Period Costs Rent on factory equipment $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount Insurance on factory building enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Raw materials used (plastics, polystyrene, etc.) enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Utility costs for factory enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Supplies for general office enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Wages for assembly-line workers enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Depreciation on office equipment enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Miscellaneous materials used (glue, thread, etc.) enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Factory manager’s salary enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Property taxes on factory building enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Advertising for helmets enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Sales commissions enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Depreciation on factory building enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount $enter a total amount for this column $enter a total amount for this column $enter a total amount for this column

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Description: Marin Company specializes in manufacturing a unique model of bicycle helmet. The model is well accepted by consumers, and the company has enough orders to keep the factory production at 10,000 helmets per month (80% of its full capacity). Marin’s mon

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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Rent on factory equipment		$11,500
Insurance on factory building		1,600
Raw materials used (plastics, polystyrene, etc.)		84,000
Utility costs for factory		910
Supplies used for general office		340
Wages for assembly-line workers		62,900
Depreciation on office equipment		890
Miscellaneous materials used (glue, thread, etc.)		1,400
Factory manager’s salary		6,200
Property taxes on factory building		430
Advertising for helmets		14,500
Sales commissions		10,720
Depreciation on factory building		1,660

Enter each cost item on your answer sheet, placing the dollar amount under the appropriate headings. Total the dollar amounts in each of the columns.

	Product Costs
Cost Item	Direct Materials	Direct Labor	Manufacturing Overhead	Period Costs
Rent on factory equipment	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount
Insurance on factory building	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
Raw materials used (plastics, polystyrene, etc.)	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
Utility costs for factory	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
Supplies for general office	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
Wages for assembly-line workers	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
Depreciation on office equipment	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
Miscellaneous materials used (glue, thread, etc.)	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
Factory manager’s salary	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
Property taxes on factory building	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
Advertising for helmets	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
Sales commissions	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
Depreciation on factory building	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
	$enter a total amount for this column	$enter a total amount for this column	$enter a total amount for this column

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