Oak Company, who produces outdoor dog houses, reports the following cost data for June. Wood used to produce dog houses $40,000 Indirect materials used to manufacture the dog houses (glue, nails, etc.) 8,000 Depreciation on equipment used in the manufacturing process Salary of the Accounts Receivable Clerk Wages paid to the employees who assemble the dog houses Marketing costs to promote the products in trade magazines Salary of the manufacturing supervisor Calculate each of the amounts below: Direct Materials Direct Labor Manufacturing Overhead Period Costs [Choose ] [Choose] [Choose] [Choose] 55,000 31,000 235,000 22,000 75,000
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
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Subject :- Accounting
![Oak Company, who produces outdoor dog houses, reports the following cost data for June.
Wood used to produce dog houses
$40,000
Indirect materials used to manufacture the
dog houses (glue, nails, etc.)
Depreciation on equipment used in the
manufacturing process
Salary of the Accounts Receivable Clerk
Wages paid to the employees who assemble
the dog houses
Marketing costs to promote the products in
trade magazines
Salary of the manufacturing supervisor
Calculate each of the amounts below:
Direct Materials.
Direct Labor
Manufacturing Overhead.
Period Costs
[Choose ]
[Choose ]
[Choose]
[Choose]
8,000
235,000
55,000
31,000
22,000
75,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F83b62d92-ae46-4dd3-8277-7ec31e6fe3f8%2F852788bf-0543-4b51-b7f5-38c5c610a8b6%2Fjuje1ji_processed.jpeg&w=3840&q=75)
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