Question 1 The following costs were extracted from Red's company book at the end of December 2014 and presented to you the cost accountant for classification. Details $ 500,000 800,000 Required: Administrative charges Production supervisors salaries Salaries of production workers Depreciation of factory machinery Direct materials Depreciation of office furniture etc. Warehouse supervisors salaries Advertising charges Direct expenses Wages of truck drivers Commission paid to salesmen Office salaries Janitorial factory wages Training expenses for sales clerks (a) Prime cost. (b) Factory overheads. (c) Production cost. 250,000 20,000 300,000 50,000 200,000 350,000 100,000 200,000 500,000 350,000 300,000 180,000

Question 1 The following costs were extracted from Red's company book at the end of December 2014 and presented to you the cost accountant for classification. Details $ 500,000 800,000 Required: Administrative charges Production supervisors salaries Salaries of production workers Depreciation of factory machinery Direct materials Depreciation of office furniture etc. Warehouse supervisors salaries Advertising charges Direct expenses Wages of truck drivers Commission paid to salesmen Office salaries Janitorial factory wages Training expenses for sales clerks (a) Prime cost. (b) Factory overheads. (c) Production cost. 250,000 20,000 300,000 50,000 200,000 350,000 100,000 200,000 500,000 350,000 300,000 180,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question 3: Sur Manufacturing is a small manufacturer that uses machine-hours as its activity base for assigned overhead costs to jobs. The company estimated the following amounts for 2015 for the company and for Job 50: Company OMR 60.000 OMR 25,000 OMR 72,000 90.000 Job 50 OMR 4,000 OMR 2.500 Direct materials Direct labor Manufacturing overhead costs Machine hours 1,350 During 2015, the actual machine-hours totaled 94,000, and actual overhead costs were OMR 71,000. Instructions (a) Compute the predetermined overhead rate. (b) Compute the manufacturing overhead applied. (c) Compute the total manufacturing costs for Job 50.
Current Attempt in Progress Tamarisk Company reports the following costs and expenses in May. Factory utilities Depreciation on factory equipment Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary From the information: $14,800 12,120 3,840 47,120 77,440 132,480 8,000 Direct labor Sales salaries Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used $66,480 44,320 2,400 1,280 1,920 14,400 2,510
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