Homework Answers
1.
Cost accumulation
| Cost | Salaries | Commissions |
| Derek | 20,100 | 6,800 |
| Lawanna | 34,500 | 1,900 |
| Total | $54,600 | $8,700 |
2.
Cost assignment
| Costs | Selling costs | Administrative costs |
| Derek's salary | 20,100 | 0 |
| Lawanna's salary | 34,500 x 2/3 = 23,000 | 34,500 x 1/3 = 11,500 |
| Derek's commission | 6,800 | 0 |
| Lawanna's commission | 1,900 | 0 |
| Total | $51,800 | $11,500 |
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The sales staff of Central Media (a locally owned radio and cable television station consists of...
Exercise 2-35 Cost Assignment The sales staff of Central Media (a locally owned radio and cable...
Exercise 2-35 Cost Assignment The sales staff of Central Media (a locally owned radio and cable television station) consists of two salespeople, Derek and Lawanna. During March, the following salaries and commissions were paid: Salaries Commissions Derek $25,000 6,000 Lawanna $30,000 1,500 Derek spends 100% of his time selling advertising. Law anna spends two-thirds ofher time sell- ing advertising and the remaining one-third on administrative work. Commissions are paid only on sales. Continued) Required: 1. Accumulate these costs by account...
Cost Classification Loring Company incurred the following costs last year: Costs Amounts Direct materials $211,000 Factory...
Cost Classification Loring Company incurred the following costs last year: Costs Amounts Direct materials $211,000 Factory rent 21,000 Direct labor 120,000 Factory utilities 6,300 Supervision in the factory 55,000 Indirect labor in the factory 38,000 Depreciation on factory equipment 8,500 Sales commissions 33,000 Sales salaries 72,000 Advertising 35,000 Depreciation on the headquarters building 10,200 Salary of the corporate receptionist 27,000 Other administrative costs 183,000 Salary of the factory receptionist 29,000 Required: 1. Classify each of the costs using the table...
Loring Company incurred the following costs last year: Costs Amounts Direct materials $210,000 Factory rent 20,000...
Loring Company incurred the following costs last year: Costs Amounts Direct materials $210,000 Factory rent 20,000 Direct labor 123,000 Factory utilities 6,400 Supervision in the factory 54,000 Indirect labor in the factory 34,000 Depreciation on factory equipment 6,000 Sales commissions 26,000 Sales salaries 66,000 Advertising 34,000 Depreciation on the headquarters building 9,600 Salary of the corporate receptionist 35,000 Other administrative costs 186,000 Salary of the factory receptionist 24,000 Required: 1. Classify each of the costs using the table provided. Be...
ns Devices Window Help S D Thu 5:10 PM a Windows 10 geria 12W CengageNow2Ondir +...
ns Devices Window Help S D Thu 5:10 PM a Windows 10 geria 12W CengageNow2Ondir + a ndo er igensionLocator Sinprogressie ow. com e nt Cost Classification Instructions Cost Classification Product costs Cost Classification provided Be sure to the amounts in each an amount bow does not regre v e Direct ma is 1. Classily each of the conting the shown as an example Loring Company Score: 5127 Product Cost: Direct Materials Product Cost: Direct Labor Product Cat Manufacturing Overhead...
Listed here are the total costs associated with the production of 1,000 drum sets manufactured by...
Listed here are the total costs associated with the production of 1,000 drum sets manufactured by TrueBeat. The drum sets sell for $540 each. Plastic for casing—$15,000. Wages of assembly workers—$90,000 Property taxes on factory—$8,000 Accounting staff salaries—$42,000 Drum stands (1,000 stands purchased)—$38,000 Rent cost of equipment for sales staff—$36,000 Upper management salaries—$205,000 Annual flat fee for factory maintenance service—$20,000 Sales commissions—$25 per unit Machinery depreciation, straight-line—$35,000 TrueBeat – Summarized connect given data Average Cost per Unit Total Dollars...
OBJECTIVE2 Exercise 2-31 Cost Classification Loring Company incurred the following costs last year: Sua Direct materials...
OBJECTIVE2 Exercise 2-31 Cost Classification Loring Company incurred the following costs last year: Sua Direct materials Factory rent Direct labor Factory utilities Supervision in the factory Indirect labor in the factory Depreciation on factory equipment Sales commissions Sales salaries Advertising Depreciation on the headquarters building Salary of the corporate receptionist Other administrative costs Salary of the factory receptionist S216,000 24,000 120,000 6,300 50,000 30,000 9,000 27,000 65,000 37,000 10,000 30,000 175,000 28,000 (Continued) Required: 1. Classify each of the costs...
The following information applies to the questions displayed below.) Listed here are the total costs associated...
The following information applies to the questions displayed below.) Listed here are the total costs associated with the production of 1,000 drum sets manufactured by TrueBeat. The drum sets sell for $516 each. Costs 1. Plastic for casing-$19.000 2. Wages of assembly workers--$90,000 3. Property taxes on factory-$7,000 4. Accounting staff salarles-$33.000 5. Drum stands (1.000 stands purchased)-$35,000 6. Rent cost of equipment for sales staff-$36.000 7. Upper management salaries--$170,000 8. Annual flat fee for factory maintenance service-$16,000 9. Sales...
Answer question 2 using the table from question 1. [The following information applies to the questions...
Answer question 2 using the table from question 1.
[The following information applies to the questions displayed below.) Listed here are the total costs associated with the production of 1,000 drum sets manufactured by TrueBeat. The drum sets sell for $516 each. Costs 1. Plastic for casing-$19,000 2. Wages of assembly workers--$90,000 3. Property taxes on factory-$7,000 4. Accounting staff salaries-$33,000 5. Drum stands (1.000 stands purchased)-$35,000 6. Rent cost of equipment for sales staff-$36.000 7. Upper management salaries-$170,000 8....
Crispin Company’s sales from last year were $8 million. The company maintains no beginning or ending...
Crispin Company’s sales from
last year were $8 million. The company maintains no beginning or
ending inventories. It has assembled all of its costs from last
year and would like your assistance in sorting these costs into
various categories, depicting them graphically, and preparing
traditional and contribution format income statements. (Using
Excel)
1. Go to the “Cost Summary” tab. Using
PivotTable and Charts:
a. Calculate the company’s total product costs
and total period costs.
b. Calculate the portions of the...
please answer everything i didnt answer correctly ✓ 2.2596 PR 19-6A Contribution margin, break-even sales, cost-volume-profit...
please answer everything i didnt answer correctly
✓ 2.2596 PR 19-6A Contribution margin, break-even sales, cost-volume-profit chart, OBJ. 2, 3, 4, 5 margin of safety, and operating leverage Wolsey Industries Inc. expects to maintain the same inventories at the end of 2016 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked...
Exercise 2-35 Cost Assignment The sales staff of Central Media (a locally owned radio and cable television station) consists of two salespeople, Derek and Lawanna. During March, the following salaries and commissions were paid: Salaries Commissions Derek $25,000 6,000 Lawanna $30,000 1,500 Derek spends 100% of his time selling advertising. Law anna spends two-thirds ofher time sell- ing advertising and the remaining one-third on administrative work. Commissions are paid only on sales. Continued) Required: 1. Accumulate these costs by account...
ns Devices Window Help S D Thu 5:10 PM a Windows 10 geria 12W CengageNow2Ondir + a ndo er igensionLocator Sinprogressie ow. com e nt Cost Classification Instructions Cost Classification Product costs Cost Classification provided Be sure to the amounts in each an amount bow does not regre v e Direct ma is 1. Classily each of the conting the shown as an example Loring Company Score: 5127 Product Cost: Direct Materials Product Cost: Direct Labor Product Cat Manufacturing Overhead...
OBJECTIVE2 Exercise 2-31 Cost Classification Loring Company incurred the following costs last year: Sua Direct materials Factory rent Direct labor Factory utilities Supervision in the factory Indirect labor in the factory Depreciation on factory equipment Sales commissions Sales salaries Advertising Depreciation on the headquarters building Salary of the corporate receptionist Other administrative costs Salary of the factory receptionist S216,000 24,000 120,000 6,300 50,000 30,000 9,000 27,000 65,000 37,000 10,000 30,000 175,000 28,000 (Continued) Required: 1. Classify each of the costs...
The following information applies to the questions displayed below.) Listed here are the total costs associated with the production of 1,000 drum sets manufactured by TrueBeat. The drum sets sell for $516 each. Costs 1. Plastic for casing-$19.000 2. Wages of assembly workers--$90,000 3. Property taxes on factory-$7,000 4. Accounting staff salarles-$33.000 5. Drum stands (1.000 stands purchased)-$35,000 6. Rent cost of equipment for sales staff-$36.000 7. Upper management salaries--$170,000 8. Annual flat fee for factory maintenance service-$16,000 9. Sales...
Answer question 2 using the table from question 1.
[The following information applies to the questions displayed below.) Listed here are the total costs associated with the production of 1,000 drum sets manufactured by TrueBeat. The drum sets sell for $516 each. Costs 1. Plastic for casing-$19,000 2. Wages of assembly workers--$90,000 3. Property taxes on factory-$7,000 4. Accounting staff salaries-$33,000 5. Drum stands (1.000 stands purchased)-$35,000 6. Rent cost of equipment for sales staff-$36.000 7. Upper management salaries-$170,000 8....
Crispin Company’s sales from
last year were $8 million. The company maintains no beginning or
ending inventories. It has assembled all of its costs from last
year and would like your assistance in sorting these costs into
various categories, depicting them graphically, and preparing
traditional and contribution format income statements. (Using
Excel)
1. Go to the “Cost Summary” tab. Using
PivotTable and Charts:
a. Calculate the company’s total product costs
and total period costs.
b. Calculate the portions of the...
please answer everything i didnt answer correctly
✓ 2.2596 PR 19-6A Contribution margin, break-even sales, cost-volume-profit chart, OBJ. 2, 3, 4, 5 margin of safety, and operating leverage Wolsey Industries Inc. expects to maintain the same inventories at the end of 2016 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked...
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