Salah Company manufactured 100,000 units in 2022 and reported the following costs:Indirect manufacturing labor $ 275, 200Rental costs - plant $ 384, 000Fire insurance - plant 116,000Depreciation - plant 224,000Property taxes - plant 32,000Administration costs 800,000Direct materials, 1/1/X5 384,000 Sales revenue 12, 800, 000 Direct manufacturing labor 2, 176, 000Direct material purchases 3, 136, 000 Finished goods, 12/31/X5 1,280, 000Sales commissions 640,000Advertising costs 480, 000Sales salaries 576,000 What are the total period costs incurred in 2022 ?

Salah Company manufactured 100,000 units in 2022 and reported the following costs:Indirect manufacturing labor $ 275, 200Rental costs - plant $ 384, 000Fire insurance - plant 116,000Depreciation - plant 224,000Property taxes - plant 32,000Administration costs 800,000Direct materials, 1/1/X5 384,000 Sales revenue 12, 800, 000 Direct manufacturing labor 2, 176, 000Direct material purchases 3, 136, 000 Finished goods, 12/31/X5 1,280, 000Sales commissions 640,000Advertising costs 480, 000Sales salaries 576,000 What are the total period costs incurred in 2022 ?

Name: Salah Company manufactured 100, 000 units in 2022 and reported the fo
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Description: Salah Company manufactured 100, 000 units in 2022 and reported the following costs:Indirectmanufacturing labor $ 275, 200Rental costs - plant $ 384,000Fire insurance - plant 116,000 Depreciation -plant 224, 000Property taxes - plant 32, 000Administr

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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Concept explainers

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.

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Question

Salah Company manufactured 100, 000 units in 2022 and reported the following costs:Indirect
manufacturing labor $ 275, 200Rental costs - plant $ 384,000Fire insurance - plant 116,000 Depreciation -
plant 224, 000Property taxes - plant 32, 000Administration costs 800, 000Direct materials, 1/1/X5 384, 000
Sales revenue 12, 800, 000Direct manufacturing labor 2, 176, 000Direct material purchases 3, 136, 000
Finished goods, 12/31/X5 1,280, 000Sales commissions 640,000Advertising costs 480,000Sales salaries
576, 000 What are the total period costs incurred in 2022 ?

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