Accurate answer The accounting records of Summit Enterprises revealed the following selected costs: Sales commissions,$50,000; depreciation on factory equipment, $130,000; and administrative expenses, $140,000. What isSummit Enterprises' period costs total? The accounting records of Evergreen Corporations revealed thefollowing selected costs: Sales commissions, $72,000; depreciation on office building, $90,000; andadministrative expenses, $160,000. What is Evergreen Corporations' period costs total? The accountingrecords of Blue Horizon Ltd. revealed the following selected costs: Sales commissions, $45,000;advertising expenses, $100,000; and administrative expenses, $155,000. What is Blue Horizon Ltd.'speriod costs total? The accounting records of Mountain Ridge Inc. revealed the following selected costs:Sales commissions, $60,000; insurance on factory machinery, $75,000; and administrative expenses,$180,000. What is Mountain Ridge Inc.'s period costs total? The accounting records of Sunset Holdingsrevealed the following selected costs: Sales commissions, $85,000; office supplies expenses, $35,000;and administrative expenses, $190,000. What is Sunset Holdings' period costs total?

In accounting, period costs are the expenses that are not tied directly to the production of goods…

Answered: The accounting records of Summit…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter11: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 4CDQ: How would each of the following costs be classified if units produced is the activity base? a....

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The accounting records of Summit Enterprises revealed the following selected costs: Sales commissions, $50,000; depreciation on factory equipment, $130,000; and administrative expenses, $140,000. What is Summit Enterprises' period costs total? The accounting records of Evergreen Corporations revealed the following selected costs: Sales commissions, $72,000; depreciation on office building, $90,000; and administrative expenses, $160,000. What is Evergreen Corporations' period costs total? The accounting records of Blue Horizon Ltd. revealed the following selected costs: Sales commissions, $45,000; advertising expenses, $100,000; and administrative expenses, $155,000. What is Blue Horizon Ltd.'s period costs total? The accounting records of Mountain Ridge Inc. revealed the following selected costs: Sales commissions, $60,000; insurance on factory machinery, $75,000; and administrative expenses, $180,000. What is Mountain Ridge Inc.'s period costs total? The accounting records of Sunset…
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The accounting records of Younkin Corporation revealed the following selected costs: Sales commissions, $61,000; plant supervision, $215,000. and administrative expenses, $184,000. What is Younkin’s period costs total?
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Revilla Corporation's manufacturing costs were as follows: Prime Costs P400,000 Straight-line depreciation of factory equipment P60,000 Straight-line depreciation of factory building P40,000 Janitor's salaries for cleaning factory premises P12,000 Salesmen's Commission based on sales P20,000 Straight-line depreciation of delivery van P15,000 1. How much of these costs should be inventoried for external reporting purposes?
The accounting records of Dela Cruz Corporation revealed the following costs direct material used, $750,000; direct labor used, $1,275,000; factory overhead,$1,125,000; indirect materials used $500,000; indirect labor used $600,000; selling and marketing expenses $660,000; general and administrative expenses $440,000. Dela Cruz Corporation Conversion Cost is? a. $2,400,000 b. $1,700,000 c. $2,225,000 d. $2,200,000
Ryan Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used Instructions $100,000 60,000 7,500 110,000 13,000 Advertising expense Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks $45,000 14,000 21,000 35,000 50,000 (a) Identify each of the above costs as direct materials, direct labor, manufacturing overhead, or period costs. (b) Explain the basic difference in accounting for product costs and period costs.
1. The accounting records of Dela Cruz Corporation revealed the following costs direct material used, $750,000; direct labor used, $1,275,000; factory overhead,$1,125,000; indirect materials used $500,000; indirect labor used $600,000; selling and marketing expenses $660,000; general and administrative expenses $440,000. Dela Cruz Corporation Prime Cost is? a. $1,875,000 b. $2,025,000 c. $2,225,000 d. $2,200,000
The accounting records of Inter Company revealed the following selected costs: Sales commissions, $65,000; plant supervision, $190,000; and administrative expenses, $185,000. Inter's period costs total: a. $440,000. O b. $285,000. O c. $250,000. O d. $255,000.
The company's expenses during the above period were: depreciation = 1500, exhibition expenses = 800, factory insurance premiums = 650, administrative employees' fees=22000, depreciation of factory machinery = 1400, rent=6500, salesmen's travel expenses = 1500, factory warden salaries = 2200, cleaning costs = 450, subscriptions = 150, maintenance costs = 320, indirect production materials = 750, factory maintenance costs = 1100, advertising costs = 5100, salaries of salesmen = 10000, utility costs = 4800, sample costs = 650, indirect work = 3600, interest debit & related financial expenses = 750, foreman salaries = 4100, other promotion costs = 390, lawyers' fee = 10000, accountants' fee = 11000, miscellaneous production consumables = 900. Prepare the cost report and profit and loss statement

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