Vignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year: Cost of clay used in production Wages paid to the workers who paint the figurines Wages paid to the sales manager's secretary Cost of junk mail advertising What is the total of the direct costs above? Multiple Choice $154,000 $116,000 $62,000 $195,000 of 15 $ 62,000 $ 92,000 $ 24,000 $ 41,000 H Next >

Vignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year: Cost of clay used in production Wages paid to the workers who paint the figurines Wages paid to the sales manager's secretary Cost of junk mail advertising What is the total of the direct costs above? Multiple Choice $154,000 $116,000 $62,000 $195,000 of 15 $ 62,000 $ 92,000 $ 24,000 $ 41,000 H Next >

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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W y ABC Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by ABC for last year: Cost of clay used in production Wages paid to the workers who paint the figurines Wages paid to the sales manager's secretary Cost of junk mail advertising What is the total of the product costs above? Multiple Choice $0 $75,000 $169,000 $172,000 Q Search $ 72,000 $ 97,000 $ 29,000 $ 46,000
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Vignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year: Cost of clay used in production $ 75,000 Wages paid to the workers who paint the figurines $ 86,000 Wages paid to the sales manager's secretary $ 38,000 Cost of junk mail advertising $ 55,000 What is the total of the product costs above? $179,000 $93,000 $161,000 $0
Benson Trophies makes and sells trophies it distributes to little league ballplayers. The company normally produces and sells between 8,000 and 14,000 trophies per year. The following cost data apply to various activity levels: Required Complete the preceding table by filling in the missing amounts for the levels of activity shown in the first row of the table. (Round "Cost per unit" answers to 2 decimal places.) Number of Trophies Total costs incurred 8,000 10,000 12,000 14,000 Fixed $ 48,000 Variable 42,000 Total costs $ 90,000 $ $ $ Cost per unit Fixed 24 6.00 Variable 5.25 Total cost per trophy 11.25 $ 0.00 $ 0.00 $ 0.00
Hicks Contracting collects and analyzes cost data in order to track the cost of installing decks on new home construction jobs. The following are some of the costs that they incur. Classify these costs as fixed or variable costs and as product or period costs. Lumber used to construct decks ($12.00 per square foot) Carpenter labor used to construct decks ($10 per hour) Construction supervisor salary ($45,000 per year) Depreciation on tools and equipment ($6,000 per year) Selling and administrative expenses ($35,000 per year) Rent on corporate office space ($34,000 per year) Nails, glue, and other materials required to construct deck (varies per job)
Classify costs Cromwell Furniture Company manufactures sofas for distribution to several major retail chains. The following costs are incurred in the production and sale of sofas: Fabric for sofa coverings Wood for framing the sofas Legal fees paid to attorneys in defense of the company in a patent infringement suit, 25,000 plus 160 per hour Salary of production supervisor Cartons used to ship sofas Rent on experimental equipment, 50 for every sofa produced Straight-line depreciation on factory equipment Rental costs of warehouse, 30,000 per month Property taxes on property, plant, and equipment Insurance premiums on property, plant, and equipment, 25,000 per year plus 25 per 25,000 of insured value over 16,000,000 Springs for seat cushions Consulting fee of 120,000 paid to efficiency specialists Electricity costs of 0.13 per kilowatt-hour Salespersons salary, 80,000 plus 4% of the selling price of each sofa sold Foam rubber for cushion fillings Janitorial supplies, 2,500 per month Employer's FICA taxes on controller's salary of 180,000 Salary of designers Wages of sewing machine operators Sewing supplies Instructions Classify the preceding costs as either fixed, variable, or mixed. Use the following tabular headings and place an X in the appropriate column. Identify each cost by letter in the cost column.
Calculate the product costs.
The Bello Horizonte Company is a textile company that specializes in manufacturing promotional items for jackets with embroidered logos. It uses machine hours as the only allocation base. These are the estimates for next year. We also have the estimates for the jackets that the EGAE asks us to promote its new eMBA. What is the amount of indirect costs that will be distributed or allocated (allocated) to EGAE's work? Company eMBA EGAE Direct Materials $40,000 $2,000 Direct Labor $10,000 $400 Manufacturing Overhead Cost $45,000 Manufacturing Hours 100,000 mh 900 mh Required: How much will the total cost of the eMBA EGAE order be? a. $2,805 b. $1,920 c. $1,970 d. $2,905
Munoz Trophies makes and sells trophies it distributes to little league ballplayers. The company normally produces and sells between 6,000 and 12,000 trophies per year. The following cost data apply to various activity levels: Required Complete the preceding table by filling in the missing amounts for the levels of activity shown in the first row of the table. (Round "Cost per unit" answers to 2 decimal places.) Number of Trophies 6,000 8,000 10,000 12,000 Total costs incurred Fixed $ 64,000 Variable 42,000 Total costs $ 106,000 $ Cost per unit Fixed 2$ 10.67 Variable 7.00 Total cost per trophy 24 17.67 0.00 0.00 S 0.00
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artwell Inc. makes picture frames which are sold in a local retail store and through various websites. Wood for frames $ 16,500 Rent for retail store 4,300 Depreciation on office equipment 660 Assembly worker wages 2,650 CEO's salary 4,150 Glue and nails 850 Online sales commissions 2,100 Glass for frames 6,600 Depreciation on factory equipment 1,250 Factory utilities 700 Stain for frames 750 8. Determine the total prime cost. 9. Determine the total conversion cost.
Johnson Company manufactures and sells different colors of dry erase markers. Results from last year from the sale of green markers is given below: Sales revenue (79,000 units @ $4 each) Variable costs ..... Contribution margin Fixed costs: Salaries of line supervisors Advertising expense ... Allocated general overhead Net loss ... .. $316,000 $237,000 $ 79,000 $ 43,000 $ 28,000 $ 19,000 $ Johnson Company is considering eliminating the green dry erase markers product line. The company has determined that if the green markers are discontinued, the contribution margin of its other products will increase by $7,000. Calculate the amount of the decrease in company profits if the green dry erase markers product line is discontinued. Do not enter your answer in carmen with a negative sign in front of the number.