Question #1:The Fiberglass Boat Company reported the following costsand expenses in May 2021:Factory utilities$ 12,865Depreciation on factory269,525equipment 6,110Depreciation on delivery trucks9,600Indirect factory labor 41,2551,325equipmentIndirect materialsDirect materials usedFactory manager's salary2,687usedProperty taxes on factory1,965buildingRepairs to officeFactory repairs 18,685Advertising 21,670Office supplies12,680Direct labor $232,985Sales staff salaries198,66547,500Instructions1. Set up and complete a schedule as shown in the examplebelow, listing each item above, including its dollar amount,under the proper classification heading.2. Total each column to show the total of all costs and expensesunder each one.Cost and Expense DescriptionProduct Cost Period CostFactory UtilitiesManufacturing Overhead$12,865

Factory overhead is the indirect cost incurred in the process of manufacturing. Therefore, it is…

Question #1: The Fiberglass Boat Company reported the following costs and expenses in May 2021: Factory utilities $ 12,865 41,255 Depreciation on factory 269,525 equipment 6,110 Property taxes on factory Depreciation on delivery trucks 1,965 building 9,600 Indirect factory labor Repairs to office 1,325 equipment Indirect materials Direct materials used 198,665 Factory manager's salary 47,500 used 2,687 12,680 Direct labor Sales staff salaries $232,985 Cost and Expense Description Product Cost Period Cost Factory Utilities Factory repairs 18,685 Advertising 21,670 Office supplies Instructions 1. Set up and complete a schedule as shown in the example below, listing each item above, including its dollar amount, under the proper classification heading. 2. Total each column to show the total of all costs and expenses under each one. Manufacturing Overhead $12,865

Question #1: The Fiberglass Boat Company reported the following costs and expenses in May 2021: Factory utilities $ 12,865 41,255 Depreciation on factory 269,525 equipment 6,110 Property taxes on factory Depreciation on delivery trucks 1,965 building 9,600 Indirect factory labor Repairs to office 1,325 equipment Indirect materials Direct materials used 198,665 Factory manager's salary 47,500 used 2,687 12,680 Direct labor Sales staff salaries $232,985 Cost and Expense Description Product Cost Period Cost Factory Utilities Factory repairs 18,685 Advertising 21,670 Office supplies Instructions 1. Set up and complete a schedule as shown in the example below, listing each item above, including its dollar amount, under the proper classification heading. 2. Total each column to show the total of all costs and expenses under each one. Manufacturing Overhead $12,865

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

Cost flow relationships The following information is available for the first year of operations of Creston Inc., a manufacturer of fabricating equipment: Sales $ 12,910,000 Gross profit 5,424,800 Indirect labor 427,700 Indirect materials 187,800 Other factory overhead 845,000 Materials purchased 4,303,300 Total manufacturing costs for the period 8,220,700 Materials inventory, end of period 302,500 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.
REQUIRED: Prepare a cost of goods manufactured schedule for Simple plus Manufacturing Company for 2019. a. prime cost b. factory overhead
Instructions Labels and Amount Descriptions Manufacturing Costs Instructions The following report was prepared for evaluating the performance of the plant manager of Marching Ants Inc. Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 1 Materials used in production (including $55,600 of indirect materials) $602,000.00 2 Direct labor (including $84,000 maintenance salaries) 569,000.00 3 Factory overhead: Supervisor salaries 515,000.00 Heat, light, and power 140,200.00 Sales salaries 347,300.00 7. Promotional expenses 312,000.00 Insurance and property taxes-plant 151,400.00 6. Insurance and property taxes-corporate offices 218,600.00 10 Depreciation-plant and equipment LA... 124,000.00 Depreciation-corporate offices 11 84,000.00 ET Check My Work 5 more Check My Work uses remaining. All work saved. Email Instruct MacBook Pro 80 F2 F3 DII F4 F5 F6 F7 F8 F9 #3 3 4. 6' 00 %24 10 4. 5.
Please do not give solution in image format thanku
Please help me
X Company, a manufacturer, incurred the following costs in 2021: Selling costs $5,802 Factory supervisor salary 4,575 Factory equipment 4,651 rental Advertising costs 4,294 Direct labor 5,809 Direct materials 5,276 Legal department 5,399 costs Factory supplies 5,200 Purchasing department costs 4,886 Miscellaneous 5,609 overhead What were total period costs in 2021?
Monty Corporation has the following cost records for June 2022. Indirect factory labor $4,500 Factory utilities $390 Direct materials used 19,600 Depreciation, factory equipment 1,370 Work in process, 6/1/22 2,940 Direct labor 39,200 Work in process, 6/30/22 3,720 Maintenance, factory equipment 1,760 Finished goods, 6/1/22 Finished goods, 6/30/22 4,900 Indirect materials 2,250 7,350 Factory manager's salary 2,940 (a) Prepare a cost of goods manufactured schedule for June 2022. MONTY CORPORATION Cost of Goods Manufactured Schedule For the Month Ended June 30, 2022 > > > $ $ $ $
A partial listing of costs incurred at Backer Corporation during November appears below: Direct materials $157,000 Direct labor Manufacturing Overhead Selling Expenses Administrative Expenses 114,000 77,000 145,000 99,000 Calculate the total conversion costs for the month: Question 6 options: $234,000 $191,000 $271,000 $244,000 $348,000
Solve Question 3
None
solve correct with steps and show full work thanks