The following costs were incurred by a manufacturing company: Materials used in product Depreciation on plant Property taxes on plant Labour costs of assembly-line workers Factory supplies used Advertising expense Factory insurance $121,800 6,500 910 150,500 3,050 4,700 21,450

The following costs were incurred by a manufacturing company: Materials used in product Depreciation on plant Property taxes on plant Labour costs of assembly-line workers Factory supplies used Advertising expense Factory insurance $121,800 6,500 910 150,500 3,050 4,700 21,450

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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Use the table below and record the amount in the appropriate column category. Cost Item Cost Prime cost Conversion Cost Factory Overhead Period Costs Rent on Factory equipment 11,000 Insurance on factory building 1,500 Raw materials 75,000 Sales Commissions 10,000 Utility costs for factory 900 Supplies for general office 300 Wages for assembly line workers 58,000 Depreciation on office equipment 800 Miscellaneous materials (Glue etc.) 1,100 Factory manager’s salary 5,700 Property taxes on factory building 400 Advertising for the laptops 14,000 Office Supervisor Salary 16,000 Depreciation of factory building 1,500
vd subject-Accounting
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