Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers, and shapes. Suzie's product will target two groups: day care centers in warm climates and home school programs. Her company is Jiffy Jet and costs for last month follow: Factory rent Company advertising Wages paid to assembly workers Depreciation for salespersons' vehicles Screws Utilities for factory Assembly supervisor's salary Sandpaper President's salary Plastic tubing Paint Sales commissions Factory insurance Depreciation on cutting machines Wages paid to painters $ 3,110 1,030 30,800 2,150 505 830 3,500 185 5,040 4,070 260 1,350 1,070 2,130 7,700 Assume that Suzie Whitson has decided to begin production of her outdoor children's toy.
Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers, and shapes. Suzie's product will target two groups: day care centers in warm climates and home school programs. Her company is Jiffy Jet and costs for last month follow: Factory rent Company advertising Wages paid to assembly workers Depreciation for salespersons' vehicles Screws Utilities for factory Assembly supervisor's salary Sandpaper President's salary Plastic tubing Paint Sales commissions Factory insurance Depreciation on cutting machines Wages paid to painters $ 3,110 1,030 30,800 2,150 505 830 3,500 185 5,040 4,070 260 1,350 1,070 2,130 7,700 Assume that Suzie Whitson has decided to begin production of her outdoor children's toy.
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter2: Basic Managerial Accounting Concepts
Section: Chapter Questions
Problem 59P: Cost Definitions Luisa Giovanni is a student at New York University. To help pay her way through...
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Question
Determine Fixed Cost
![Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers,
and shapes. Suzie's product will target two groups: day care centers in warm climates and home school programs. Her company is
Jiffy Jet and costs for last month follow:
$ 3,110
Factory rent
Company advertising
Wages paid to assembly workers
Depreciation for salespersons' vehicles
1,030
30,800
2,150
Screws
505
Utilities for factory
Assembly supervisor's salary
Sandpaper
President's salary
Plastic tubing
830
3,500
185
5,040
4,070
Paint
Sales commissions
260
Factory insurance
Depreciation on cutting machines
Wages paid to painters
1,350
1,070
2,130
7,700
Assume that Suzie Whitson has decided to begin production of her outdoor children's toy.
Determine the total cost for each of the following:
Complete this question by entering your answers in the tabs below.
Determine the total cost for each of the following:
a.
Direct Materials
IS
4,070 O
b.
Direct Labor
IS
38,500 O
C.
Manufacturing Overhead
24
11,590 O
d.
Prime Cost
42,570
Conversion Cost
50,090 O
e.
f.
Total Product Cost
IS
54,160 O
g.
Total Period Cost
Is
9,570 O
Total Variable Cost
45,700
15,970 X
h.
i.
Total Fixed Cost
IS](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F53a9342a-3958-4c5f-848a-17778d9309f0%2F7452b22c-d625-4192-aed9-a86b1715fbe7%2F3ofuqq_processed.png&w=3840&q=75)
Transcribed Image Text:Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers,
and shapes. Suzie's product will target two groups: day care centers in warm climates and home school programs. Her company is
Jiffy Jet and costs for last month follow:
$ 3,110
Factory rent
Company advertising
Wages paid to assembly workers
Depreciation for salespersons' vehicles
1,030
30,800
2,150
Screws
505
Utilities for factory
Assembly supervisor's salary
Sandpaper
President's salary
Plastic tubing
830
3,500
185
5,040
4,070
Paint
Sales commissions
260
Factory insurance
Depreciation on cutting machines
Wages paid to painters
1,350
1,070
2,130
7,700
Assume that Suzie Whitson has decided to begin production of her outdoor children's toy.
Determine the total cost for each of the following:
Complete this question by entering your answers in the tabs below.
Determine the total cost for each of the following:
a.
Direct Materials
IS
4,070 O
b.
Direct Labor
IS
38,500 O
C.
Manufacturing Overhead
24
11,590 O
d.
Prime Cost
42,570
Conversion Cost
50,090 O
e.
f.
Total Product Cost
IS
54,160 O
g.
Total Period Cost
Is
9,570 O
Total Variable Cost
45,700
15,970 X
h.
i.
Total Fixed Cost
IS
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