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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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.
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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
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. How much are the total administrative costs?
Given the following costs incurred in a recent period: Direct materials - P33,000 Depreciation on factory equipment - P12,000 Factory janitor’s salary - P23,000 Direct labor - P28,000 Utilities for factory - P9,000 Selling expenses - P16,000 Production supervisor’s salary - P34,000 Administrative expenses - P21,000. Determine the following values: • period cost • product cost • operating expenses
ABC Company build an item of plant manufacturing division. The costs incurred for the construction of the plant are as follows: Contractors' cost, P20,000,000; Direct materials and labor used in the construction, P8,000,000; Engineering and technical overheads, P2,000,000; Interest costs incurred to finance construction, P1,000,000 and general administrative cost allocated, P1,500,000. Of the direct materials and labor used, P1,500,000 is attributable to cost of inefficiencies caused by labor strike. During the construction of the asset, ABC Company entered into an incidental operation wherein the company uses the vacant plant site as parking lot. Total revenue from the parking lot was P125,000 and related cost incurred was P10,000. At what amount should the manufacturing plant be initially recorded?
The accounting records of Dixon Company revealed the following costs: direct materials used, $290,000; direct labor, $475,000; manufacturing overhead, $381,000; and selling and administrative expenses, $210,000. What is Dixon's product costs total?

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