Office Mate Co. has the following manufacturing cost related to its stationery product: Wages for production workers amounting to $191,000. Determine whether the cost is a direct materials cost, direct labor cost, factory overhead, prime cost, or conversion cost. Costanzo Company manufactures a specialty line of silk-screened blouses. The company uses a job-order costing system. During the month, the following costs were incurred on Job 1041: Direct materials $54,800 Direct labor $19,200 In addition, selling and shipping costs of $28,000 were incurred on the job. Manufacturing overhead was applied at the rate of $25 per machine-hour (MH) and Job 1041 required 320 MHS. If Job 1041 consisted of 5,000 blouses (or units), what is the cost of goods sold per unit? Office Mate Co. has the following manufacturing cost related to its stationery product: Power for manufacturing equipment amounting to $116.000. Determine whether the cost is a direct materials cost, direct labor cost, factory overhead, prime cost, or conversion cost.
Office Mate Co. has the following manufacturing cost related to its stationery product: Wages for production workers amounting to $191,000. Determine whether the cost is a direct materials cost, direct labor cost, factory overhead, prime cost, or conversion cost. Costanzo Company manufactures a specialty line of silk-screened blouses. The company uses a job-order costing system. During the month, the following costs were incurred on Job 1041: Direct materials $54,800 Direct labor $19,200 In addition, selling and shipping costs of $28,000 were incurred on the job. Manufacturing overhead was applied at the rate of $25 per machine-hour (MH) and Job 1041 required 320 MHS. If Job 1041 consisted of 5,000 blouses (or units), what is the cost of goods sold per unit? Office Mate Co. has the following manufacturing cost related to its stationery product: Power for manufacturing equipment amounting to $116.000. Determine whether the cost is a direct materials cost, direct labor cost, factory overhead, prime cost, or conversion cost.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 4 images
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education