How much were Webster's product costs?(general account) The following information relates to Webster Inc.:Advertising Costs$ 10,270Sales Salary4,500Sales Revenue4,50,000President's Salary40,300Office Rent61,100Manufacturing Equipment Depreciation2,080Indirect Materials9,360Indirect Labor11,700Factory Repair and Maintenance910Direct Materials28,080Direct Labor35,100Delivery Vehicle Depreciation1,027Administrative Salaries24,700How much were Webster's product costs?

To calculate product costs, we include all costs directly related to manufacturing the product,…

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Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 4EA: Hicks Contracting collects and analyzes cost data in order to track the cost of installing decks on...

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The following information relates to Wagner, Inc.: Advertising Costs $10,600 Administrative Salaries 12,800 Delivery Vehicle Depreciation 1,200 Factory Repair and Maintenance 800 Indirect Labor 16,500 Indirect Materials 14,500 Manufacturing Equipment Depreciation 2,500 Administrative Office Rent 52,000 President's Salary 1,500 Sales Revenue 460,000 Sales Salary 5,200 How much were Wagner's period costs? Question content area bottom Part 1 A.$ 465 comma 200 $465,200 B.$ 83 comma 300 $83,300 C.$ 34 comma 300 $34,300 D.$ 6 comma 700
The following information is for ChiSox corporation DM 100 DL 80 Insurance - Factory 24 Insurance - Administration 12 Maintenance - Factory 40 Depreciation - Factory 36 Indirect Labor 60 Indirect Materials 30 Sales Commission 60 Insurance - Finished Goods Warehouse 12 Travel - Corporate Salaries - Sales 50 Salaries - Production 40 Supervisors Depreciation - Office 6 Advertising 50 Property Taxes - Production facility Rent - Administration Building 24 General Office Expenses 12 Total Expenses 662 What are the total conversion costs? 20
Gant Accounting performs two types of services, Audit and Tax. Gant's overhead costs consist of computer support, $303000; and legal support, $151500. Information on the two services is: Tax Audit $50000 $100000 Direct labor cost 10000 40000 CPU minutes 800 200 Legal hours used Overhead applied to tax services using activity-based costing is O $272700. O $151500. O $181800. O $303000. ip
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Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two departments using different allocation bases. The following information is available for the curfent period: office Expenses Salaries Depreciation Advertising Item Number of employees Net sales Cost of goods sold Multiple Choice O The amount of the advertising cost that should be allocated to Grinding for the current period is: O O $24,400 $68.000 $36.600 $360.000 Total $46,000 27,000 61,000 $81,000. Allocation Basis Number of employees Cost of goods sold Net sales Drilling Grinding Total 1,200 1,800 3,000 $360,000 $540,000 $900,000 $114,000 $186,000 $300,000
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Original costs Proportion of Administrative hours used Proportion of Information Systems hours used Proportion of Maintenance hours used (a) Total costs Administrative Institutional $77,000 0.20 Operating Segments 0.10 Support Departments Information Systems Maintenance $110,600 $62,000 0.10 Retail 0.10 0.10 0.10 Operating Segments Institutional Retail $649,000 $351,000 0.45 0.40 Determine the total costs that each operating segment would be accountable for if support costs are allocated using the direct method. (Round interme 0.30 0.35 0.30 0.50
Lily Accounting performs two types of services, Audit and Tax. Lily's estimated overhead costs consist of computer support, $312000; and legal support, $153000. Information on the two services and their estimated use of cost drivers is as follows: Direct labor cost CPU minutes Legal hours used Audit Tax $50000 $100000 O $3744 O $5097 O $5544 O $3897 40000 200 10000 800 Lily Accounting performs tax services for Cathy Lane. Direct labor cost is $1200, 600 CPU minutes were used; and 1 legal hour was used. What is the total cost of the Lane job using ABC?
The following represents the financial information for Plaza Plastics for May and June: Sales revenue Costs Scrap Process inspection Quality training Product testing equipment Field testing Warranty repairs Rework Preventive maintenance Legal expense for warranty claims. Materials inspection Required A May $ 843,000 Required B Scrap $ 2,160 3,040 23,940 5,340 8,580 3,540 19,940 16,380 7,980 11,460 Required: a. Classify these items into Prevention, Appraisal, Internal failure, or External failure costs. b. Calculate the ratio of the prevention, appraisal, internal failure, and external failure costs to sales for May and June. Activity Complete this question by entering your answers in the tabs below. June $ 636,000 $ 1,870 1,920 11,880 4,500 6,480 3,240 16,830 8,730 4,500 11,340 Classify these items into Prevention, Appraisal, Internal failure, or External failure costs. Category
The following represents the financial information for Plaza Plastics for May and June: June $636,000 Sales revenue Costs Scrap Process inspection Quality training Product testing equipment Field testing Warranty repairs Rework Preventive maintenance Legal expense for warranty claims Materials inspection Required A Required B Prevention May $ 843,000 % $ 2,160 3,040 23,940 Required: a. Classify these items into Prevention, Appraisal, Internal failure, or External failure costs. b. Calculate the ratio of the prevention, appraisal, internal failure, and external failure costs to sales for May and June. June 5,340 8,580 3,540 Complete this question by entering your answers in the tabs below. % 19,940 16,380 7,980 11,460 Calculate the ratio of the prevention, appraisal, internal failure, and external failure costs to sales for May and June. Note: Round your percentage answers to 1 decimal place (i.e., .321 as 32.1). May $ 1,870 1,920 11,880 4,500 6,480 3,240 16,830 8,730 4,500 11,340
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