Question: A review of accounting records for last year disclosed the following selected information: Variable costs: Direct materials used 48,000 Direct labor 165,000 Manufacturing overhead 95,000 Selling costs 86,000 Fixed costs: Selling costs 100,000 223,000 Manufacturing overhead 250,000 Administrative costs In addition, the company suffered a $15,200 uninsured factory fire loss during the year. What were the product costs and period costs for last year?

Question: A review of accounting records for last year disclosed the following selected information: Variable costs: Direct materials used 48,000 Direct labor 165,000 Manufacturing overhead 95,000 Selling costs 86,000 Fixed costs: Selling costs 100,000 223,000 Manufacturing overhead 250,000 Administrative costs In addition, the company suffered a $15,200 uninsured factory fire loss during the year. What were the product costs and period costs for last year?

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

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A review of Plunkett Corporation's accounting records for last year disclosed the following selected Variable costs Direct materials used $ 56,000 Direct labor $179,100 Manufacturing overhead $154,000 Selling costs $108,400 Fixed costs Manufacturing overhead $267,000 Selling costs $121,000 Administrative costs $235,900 In addition, the company suffered a $27,700 uninsured factory fire loss during the year. What were Plunkett's product costs and period costs for last year
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