sted here are the costs her firm incurred for month ended August Supplies used on consulting contracts $1,600 Supplies used in the administrative offices 1,440 Depreciation on equipment used for contract work 880 Depreciation on administrative office equipment 1,000 Salaries of professionals working on contracts 14,960 Salaries of administrative office personnel 7,360 Janitorial services for professional offices 640 Janitorial services for administrative offices 480

sted here are the costs her firm incurred for month ended August Supplies used on consulting contracts $1,600 Supplies used in the administrative offices 1,440 Depreciation on equipment used for contract work 880 Depreciation on administrative office equipment 1,000 Salaries of professionals working on contracts 14,960 Salaries of administrative office personnel 7,360 Janitorial services for professional offices 640 Janitorial services for administrative offices 480

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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[The following information applies to the questions displayed below.]Information on Kwon Manufacturing’s activities for its first month of operations follows: Purchased $101,700 of raw materials on credit. Materials requisitions show the following materials used for the month. Job 201 $ 49,900 Job 202 25,300 Total direct materials 75,200 Indirect materials 10,320 Total materials used $ 85,520 Time tickets show the following labor used for the month. Job 201 $ 40,900 Job 202 14,300 Total direct labor 55,200 Indirect labor 25,900 Total labor used $ 81,100 Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate is 80% of direct materials cost. Transferred Job 201 to Finished Goods Inventory. (1) Sold Job 201 for $168,860 on credit. (2) Record cost of goods sold for Job 201. Incurred the following actual other overhead costs for the month. Depreciation of factory equipment $ 33,700 Rent on factory building (payable)…
XYZ Company has the following balances for the current month: Direct materials used OMR 24,000 Direct labor OMR 36,800 Sales salaries OMR 19,200 Indirect labor OMR 4,800 Production manager's salary OMR 9,600 Marketing costs OMR 14,400 Factory lease OMR 6,400 What is total manufacturing cost? a. OMR 81,600 b. OMR 86,400 C. OMR 89,600 d. OMR 96,000 e. None of the given answer.
Rob's Pool Cleaning applies overhead support costs to jobs using direct labor costs as the allocation base. The company's unadjusted Cost of Services for the year amounted to $800,000. Determine the company's adjusted Cost of Services given the following data: Estimated Actual Direct Labor $180,000 $177,500 Overhead Support Costs $270,000 $284,000
Knight Company reports the following costs and expenses in May. Factory utilities $17,256 Depreciation on factory equipment $12,908 Depreciation on delivery trucks $4,025 Indirect factory labor $53,079 Indirect materials $84,719 Direct materials used $142,670 Factory manager's salary $8,399 Direct labor $72,344 Sales salaries $49,163 Property taxes on factory building $3,381 Repairs to office equipment $1,614 Factory repairs $2,617 Advertising $15,734 Office supplies used $3,274 From the information, determine the total amount of product costs.
Use the following data to compute total factory overhead costs for the month: Sales commissions S| 10,800 Direct labor 39,600 Indirect materials 15,200 Factory manager salaries 7,200 Factory supplies 9,000 Indirect labor 6,300 Depreciation-office equipment 5,000 Direct materials 40,500 Corporate office salaries 42,500 Depreciation-factory equipment 7,500
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Cost data for Disksan Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $180,000 $145,500 Work in process 334,600 290,700 Finished goods 675,000 715,000 Direct labor $2,260,000 Materials purchased during January 1,375,000 Factory overhead incurred during January: Indirect labor 115,000 Machinery depreciation 90,000 Heat, light, and power 55,000 Supplies 18,500 Property taxes 10,000 Miscellaneous costs 33,100 a. Prepare a cost of goods manufactured statement for January.
Knight Company reports the following costs and expenses in May. Factory utilities $ 10,500 Direct labor $69,000 Depreciation on factory equipment 12,650 sales salaries 47,000 Depreciation on delivery trucks 4,000 Property taxes on factory building 2,000 Indirect factory labor 48,900 Repairs to office equipment 1,500 Indirect materials 80, 800 Factory repairs 2,000 Direct materials used 137,000 Advertising 15,000 Factory manager's salary 8,000 Office supplies used 2,600 Instruction: From the information, determine the total amount of: Manufacturing overhead. Product costs. Period costs.
Unigloo Corporation uses a predetermined overhead rate based on direct labour-hours to apply manufacturing overhead to jobs. The Corporation has provided the following estimated costs for the next year:Direct materials $5,000Direct labour $19,000Rent on factory building $16,000Sales salaries $24,000Depreciation of corporate office printers $13,000Depreciation on factory machinery $7,000Indirect materials $11,000Indirect labour $14,000Unigloo estimates that 12,000 direct labour-hours will be worked during the year. Calculate the predetermined overhead rate per hour.
Robin Company has the following balances for the current month: Direct materials used $ 8,500 Direct labor $20,900 Sales salaries $10,500 $ 1,870 $ 6,070 $ 9,230 $ 4,650 Indirect labor Production manager's salary Marketing costs Factory lease What is Robin's total manufacturing overhead? Multiple Choice $17,170 $29,400 $12,590 $9,230