Please answer first three Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2018: Factory rent Company advertising Wagen paid to seamatressen Depreciation on nalespersona vehicles Thread Utilities for factory Cutting room supervisor's salary President's salary Premium quality cotton material $ 36,500 25,500 76,800 31,300 1,040 24,000 30,300 75,800 41,600 840 Duttona Factory insurance Depreciation on seving machines Wages paid to cuttera 18,400 6,900 50,500 Required: 1. Compute the cost of direct materials for Cotton White. 2. Compute the cost of direct labor for Cotton White. 3. Compute the cost of manufacturing overhead for Cotton White. 4. Compute the total manufacturing cost for Cotton White. 5. Compute the prime cost for Cotton White. 6. Compute the conversion cost for Cotton White. 7. Compute the total period cost for Cotton White.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
please answer in text
Please answer first three
Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2018:
$ 36,500
25,500
Factory rent
Company advertising
Wagen paid to seamstressen
Depreciation on nalespersons vehicles
Thread
Utilities for factory
Cutting room supervisor's salary
President's salary
Premium quality cotton material
Duttons
76,800
31,300
1,040
24,000
30,300
75,800
41,600
840
Factory insurance
Depreciation on seving machines
Wages paid to cutters
18,400
6,900
50,500
Required:
1. Compute the cost of direct materials for Cotton White.
2. Compute the cost of direct labor for Cotton White.
3. Compute the cost of manufacturing overhead for Cotton White.
4. Compute the total manufacturing cost for Cotton White.
5. Compute the prime cost for Cotton White.
6. Compute the conversion cost for Cotton White.
7. Compute the total period cost for Cotton White.
Transcribed Image Text:Please answer first three Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2018: $ 36,500 25,500 Factory rent Company advertising Wagen paid to seamstressen Depreciation on nalespersons vehicles Thread Utilities for factory Cutting room supervisor's salary President's salary Premium quality cotton material Duttons 76,800 31,300 1,040 24,000 30,300 75,800 41,600 840 Factory insurance Depreciation on seving machines Wages paid to cutters 18,400 6,900 50,500 Required: 1. Compute the cost of direct materials for Cotton White. 2. Compute the cost of direct labor for Cotton White. 3. Compute the cost of manufacturing overhead for Cotton White. 4. Compute the total manufacturing cost for Cotton White. 5. Compute the prime cost for Cotton White. 6. Compute the conversion cost for Cotton White. 7. Compute the total period cost for Cotton White.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Managing Debt
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education