what is the total manufactoring overhead cost incurred during this period by canine nutritionist and determine the prime cost and conversion cost of the product manufactored Part 1Canine Nutritionists is a manufacturer of grains for dogs. The following information pertains to operations duringthe 2021 calendar year.Inventory Data:Raw MaterialsIndirect Materials1/1/2021 Purchases 31/12/2021$750,000 $4,330,00055,000 320,000924,0001,142,600Work in ProgressFinished GoodsThe following additional information is also available:Sales RevenueDirect Factory LaborIndirect Factory LaborTotal Depreciation ¹Total Utilities 2Distribution & Customer Service CostsInsurance on Plant & EquipmentProperty Taxes 3Administrative Wages & SalariesAdvertising ExpensesSales Commissionn/an/a$807,00071,500814,7501,720,200$14,776,0004,371,0001,232,250400,000525,00076,800585,00090,0001,076,00057,7005% of Sales Revenue1 Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general andadministrative costs.2 Of the total utilities, 75% relates to manufacturing and 25% relates to general and administrative costs.3 The property taxes should be shared: 85% manufacturing & 15% general & administrative costs.

Manufacturing overhead costs include all the direct and indirect costs related to production or…

Part 1 Canine Nutritionists is a manufacturer of grains for dogs. The following information pertains to operations during the 2021 calendar year. Inventory Data: Raw Materials Indirect Materials Work in Progress n/a Finished Goods n/a The following additional information is also available: Sales Revenue Direct Factory Labor Indirect Factory Labor Total Depreciation ¹ Total Utilities 2 1/1/2021 Purchases 31/12/2021 $750,000 $4,330,000 $807,000 320,000 55,000 924,000 1,142,600 Distribution & Customer Service Costs Insurance on Plant & Equipment Property Taxes 3 Administrative Wages & Salaries Advertising Expenses Sales Commission 71,500 814,750 1,720,200 $14,776,000 4,371,000 1,232,250 400,000 525,000 76,800 585,000 90,000 1,076,000 57,700 5% of Sales Revenue ¹ Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general and administrative costs. 2 Of the total utilities, 75% relates to manufacturing and 25% relates to general and administrative costs. 3 The property taxes should be shared: 85% manufacturing & 15% general & administrative costs.

Part 1 Canine Nutritionists is a manufacturer of grains for dogs. The following information pertains to operations during the 2021 calendar year. Inventory Data: Raw Materials Indirect Materials Work in Progress n/a Finished Goods n/a The following additional information is also available: Sales Revenue Direct Factory Labor Indirect Factory Labor Total Depreciation ¹ Total Utilities 2 1/1/2021 Purchases 31/12/2021 $750,000 $4,330,000 $807,000 320,000 55,000 924,000 1,142,600 Distribution & Customer Service Costs Insurance on Plant & Equipment Property Taxes 3 Administrative Wages & Salaries Advertising Expenses Sales Commission 71,500 814,750 1,720,200 $14,776,000 4,371,000 1,232,250 400,000 525,000 76,800 585,000 90,000 1,076,000 57,700 5% of Sales Revenue ¹ Of the total depreciation, 80% relates to factory plant & equipment and 20% relates to general and administrative costs. 2 Of the total utilities, 75% relates to manufacturing and 25% relates to general and administrative costs. 3 The property taxes should be shared: 85% manufacturing & 15% general & administrative costs.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Determine whether each of the following costs should be classified as product costs or period costs. Depreciation on office equipment. Salary to painting supervisor. Wages paid to production workers. Insurance on office equipment and machinery. Materials purchased.
Insurance expense incurred on a factory building would be treated as a Group of answer choices selling cost direct cost period cost product cost
Question Content Area Which of the following would be included in the cost of a product manufactured according to absorption costing? a. sales salaries b. advertising expense c. office supplies costs d. depreciation expense on factory building
Which of the following activity bases would be appropriate to use for materials handling? A. Number of machine hours B. Number of material moves C. Number of production orders D. Kilowatt-hours used
Standard costs are divided into which of the following components? A. price standard and quantity standard B. quality standard and quantity standard C. variance standard and quantity standard D. materials standard and labor standard Which of the following activity bases would be the most appropriate for food costs of a hospital? A. how many MRI's are taken B. number of patients who stay in the hospital C. quantity of prescriptions filled D. number of nurses scheduled to work To calculate income from operations, total service department charges are A. subtracted from operating expenses B. subtracted from income from operations before service department charges C. subtracted from gross profit margin D. added to income from operations before service department charges
decide if task costing or process costing would be a more suitable method of accounting It's a nursing home, obviously. Landscaping services are provided by
Which of the following is a direct cost with respect to producing a motor car? a. Salary of production supervisor b. Plant utilities c. Cost of car engine d. Depreciation of plant & equipment
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Question Content Area Activity rates and product costs using activity-based costing Idris Inc. manufactures entry and dining room lighting fixtures. Five activities are used in manufacturing the fixtures. These activities and their associated budgeted activity costs and activity bases are as follows: Activity BudgetedActivity Cost Activity Base Casting $640,000 Machine hours Assembly 125,000 Direct labor hours Inspecting 30,000 Number of inspections Setup 28,000 Number of setups Materials handling 20,000 Number of loads Corporate records were obtained to estimate the amount of activity to be used by the two products. The estimated activity-base usage quantities and units produced follow: Activity Base Entry Dining Total Machine hours 7,500 12,500 20,000…
Overhead application to costs is a critical issue for the costing of your products. We are studying several ways to handle this situation. What would cause an overhead to be overapplied, or underapplied. Discuss the results to your decision making and the financial statements for each of those two situations.
How does activity-based costing differ from traditional costing systems? Can you please create a brief outline by identifying 1 or 2 examples of a restaurant using an ABC system at a customer level, group level, service level, and facility level? PLEASE BE ORIGINAL IN YOUR ANSWER.
Which one of the following options can be used when allocating cafeteria costs? Select one: a. Number of square feet b. Appraised value of square footage c. Number of direct labor hours d. Number of employees
A direct material standard cost is: Group of answer choices The cost of direct materials that should be incurred to produce one unit of output or product. The amount of direct materials that should be used to produce one unit of output or product. The cost of all materials and supplies used to produce one unit of output or product. The price that should be spent to purchase each unit of direct material for production.