The Casual Furniture Company manufactures outdoor furniture and incurred the following costs during the month of January: Timber Paint Glue Wages-assembly personnel $25 000 $5 000 $500 $20 000 Wages-factory supervisor $3 500 Factory cleaner's wages $2.000 Sales commissions $10 000 Administrative staff salaries $4.000 Depreciation-factory equipment $3.000 Depreciation-sales office equipment $1.000 Utilities, insurance-factory $6.000 Utilities, insurance-sales office $2.000 Advertising $8.000 Total costs $90 000 The product costs are: a. $90 000 O b. $65.000 O c. $63 000 Od. $83 000
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- Burnham Industries incurs the following costs for the month: Direct materials $2,200 Direct labor 3,100 Factory depreciation expense 3,300 Factory utilities expense 850 CEO's salary 4,000 A. What is the prime cost? $fill in the blank 1 B. What is the conversion cost? $fill in the blank 2Superman Company Superman Company has the following costs and expenses for the year ending December 21, 2X20. Raw materials, 1/1/20 Raw materials, 12/31/20 Raw materials purchases Work-in-process, 1/1/20 Work-in-process, 12/31/20 Finished goods, 1/1/20 Finished goods, 12/31/20 Direct labor Factory manager's salary | Insurance, factory P30,000 Property taxes, factory building 20,000 Sales revenue 205,000 Delivery expenses 80,000 Sales commissions 50,000 Indirect labor 110,000 Factory machinery rent 120,000 Factory utilities 350,000 Depreciation, factory building 35,000 Administrative expenses 14,000 P6,000 1,500,000 100,000 150,000 105,000 40,000 65,000 24,000 300,000 Requirement: 1. Prepare a cost of goods manufactured schedule for Superman Company for 2X20. Note: Assume that all raw materials used were direct materials 2. Prepare an income statement for Superman company for 2020. 3. Assume that Superman Company's accounting records show the balances of the following current asset…Jackson Furniture Company provided the following manufacturing costs for the months of June Direct labor costs $120,000 62,000 Direct materials costs Equipment depreciation (straight-line) Factory insurance Factory manager's salary Janitor's salary Packaging costs Property taxes on the factory From the above information, calculate Jackson's total fixed costs. OA. $279,700 OB. $64,100 OC. $78,900 OD. $68,400 27,000 10,500 10,000 14,800 18,800 16,600
- First Household Company provided the following manufacturing costs for the month of March.How much of the above would normally be considered fixed costs?Carmen Company reports the following costs and expenses in March.Factory utilities $ 18,600Direct labor 98,100Depreciation on factory equipment 14,445Sales salaries 46,400 Property taxes on factory building 2,500Depreciation on delivery trucks 9,600Indirect factory labor 48,900Repairs to office equipment 2,300Indirect materials 80,800 Factory repairs 2,000Direct materials used 137,600Advertising 18,000Factory manager’s salary 13,000 Office supplies used 5,370Instructions: From the information, determine the total amount of:(a) Manufacturing overhead.(b) Product costs.(c) Period costs.Help
- ll Subject :- AccountingCustom Creations Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include: Depreciation on sales office $ 9,900 Depreciation on factory equipment 16,000 50,400 Factory supervisor salary Sales commissions 23,900 3,300 Lubricants used in factory equipment Insurance costs for factory 21,600 115,700 10,700 Wages paid to maintenance workers Fabric used to upholster furniture Freight-in (on raw materials) Costs of delivery to customers Wages paid to assembly-line workers Lumber used to build product 3,300 9,400 115,400 82,700 54,800 26,100 Utilities in factory Utilities in sales office Conversion costs for Custom Creations Furniture Company totaled>Browning Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include: Depreciation on sales office Depreciation on factory equipment Factory supervisor salary Sales commissions Lubricants used in factory equipment Insurance costs for factory Wages paid to maintenance workers Fabric used to upholster furniture Freight-in (on raw materials) Costs of delivery to customers Wages paid to assembly-line workers Lumber used to build product $9300 16,800 50,100 23,400 3900 21,500 115,300 10,900 3000 9700 115,600 82,100 54,500 26,700 Utilities in factory Utilities in sales office Prime costs for Browning Furniture Company totaled $93,000. $377,000. $208,600. $211,600.
- Comfy Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include: $11,000 $16,000 Depreciation on sales office Depreciation on factory equipment Factory supervisor salary Sales commissions Lubricants used in factory equipment Insurance costs for factory Wages paid to maintenance workers Fabric used to upholster furniture Freight-in (on raw materials) Costs of delivery to customers Wages paid to assembly-line workers Lumber used to build product $52,500 $23,000 $3,000 $21,000 $115,000 A. $121,000. B. $43,000. OC. $46,500, OD. $69,500. $7,000 $2,500 $9,000 $132,500 $72,000 $44,000 $26,500 Utilities in factory Utilities in sales office Period costs for Comfy Furniture Company totaled: C***Custom Creations Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include: Depreciation on sales office $ 9,800 Depreciation on factory equipment 16,700. Factory supervisor salary Sales commissions Lubricants used in factory equipment Insurance costs for factory Wages paid to maintenance workers Fabric used to upholster furniture Freight-in (on raw materials) Costs of delivery to customers Wages paid to assembly-line workers Lumber used to build product 50,200 23,400 3,800 21,400 115,600 10,900 3,200 9,200 A. $261,800. OB. $131,700. OC. $236,600. D. $325,100. 115,100 82,100 54,100 26,900 Utilities in factory Utilities in sales office Manufacturing overhead costs for Custom Creations Furniture Company totaledMetlock Company reports the following costs and expenses in May. Factory utilities Depreciation on factory equipment Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary From the information $13,300 10.870 3,340 Manufacturing overhead 42,120 69,440 118,480 7,000 Direct labor Sales salaries Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used Determine the total amount of manufacturing overhead.. $59,480 39,820 2.150 1,130 1,720 12.900 2,260 su