Homework Answers
| Direct materials | 12000 | |
| Direct labor | 18000 | |
| Manufacturing overhead costs | 22600 | |
| Total job cost | 52600 | Option B |
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Falls, Inc. reported the following costs for the month ending June 30, 2018: Direct Materials $12,000...
Wilson Manufacturing reports the following costs and expenses in June 2015. Indirect materials $ 900 Direct...
Wilson Manufacturing reports the following costs and expenses in June 2015. Indirect materials $ 900 Direct labor $11,000 Depreciation on manufacturing Property taxes on factory building 2,100 equipment 11,000 Office equipment Indirect labor 3,000 repairs 300 Property taxes on office Office supplies 650 building 870 Factory utilities 1,490 CEO salary 12,000 Repairs on manufacturing Direct materials 13,200 equipment 2,180 Instructions Determine the total amount of (a) manufacturing overhead costs, (b) other product costs and (c) period costs.
Instructions (a) Identify each of the above costs as direct materials, direct labor, manufactu head, or...
Instructions (a) Identify each of the above costs as direct materials, direct labor, manufactu head, or period costs. (b) Explain the basic difference in accounting for product costs and period costs. ect labor, manufacturing over- $69,100 46,400 E14.4 Knight Company reports the following costs and expenses in May. Factory utilities $ 15,500 Direct labor Depreciation on factory Sales salaries equipment 12,650 Property taxes on factory Depreciation on delivery trucks 3,800 building Indirect factory labor 48,900 Repairs to office equipment Indirect...
Classify the following costs incurred in the manufacturing of music CD's: MAT - Direct Materials Product...
Classify the following costs incurred in the manufacturing of music CD's: MAT - Direct Materials Product Cost LAB - Direct Labor Product Cost MOH - Manufacturing Overhead Product Cost SELL - Selling Expenses Period Cost ADM - Administrative Expenses Period Cost 1 Salary for the V. P. of Manufacutring 2 Salary for the V. P. of Human Resources 3 Plant janitorial costs 4 Corporate jet operating expense 5 Depreciation for the sales office 6 Depreciation on the production equipment 7...
Closet Links Clothing Company provided the following manufacturing costs for the month of June Direct labor...
Closet Links Clothing Company provided the following manufacturing costs for the month of June Direct labor cost Direct materials cost $140,000 81,000 (straight-line) Factory insurance Factory manager's salary Janitor's salary Packaging costs Property taxes From the above information, calculate Closet Link's total variable costs. 22,000 12,000 11,400 5,000 19,000 16,000 OA. $221,000 OB. $66,400 O C. $306,400 O D. $240,000
Direct Materials and Direct Labor Variances At the beginning of June, Kimber Toy Company budgeted 12,000...
Direct Materials and Direct Labor Variances At the beginning of June, Kimber Toy Company budgeted 12,000 toy action figures to be manufactured in June at standard direct materials and direct labor costs as follows: Direct materials Direct labor $18,000 11,760 $29,760 Total The standard materials price is $0.60 per pound. The standard direct labor rate is $14.00 per hour. At the end of June, the actual direct materials and direct labor costs were as follows: Actual direct materials $16,400 Actual...
ignore the answer i put Benson Corporation reported the following costs for the period: Materials used...
ignore the answer i put
Benson Corporation reported the following costs for the period: Materials used to manufacture product $120,000 Wages for assembly line workers $62,800 Property taxes for factory $14,000 Rent & utilities for administrative office $16,000 Salary for factory manager $8,400 CEO's salary $12,000 Depreciation on delivery equipment $11,200 What is the total amount of Benson's product costs for the period? O A. $91,100 OB. $205,200 OC. $216,400 OD. $196,400
Wachowski Company reported the following cost data for the year 2017. Factory maintenance costs $90,000 Direct...
Wachowski Company reported the following cost data for the year 2017. Factory maintenance costs $90,000 Direct labor, wages 351,000 Direct labor, health insurance 31,000 Indirect labor, health insurance 16,000 Health insurance for production supervisor 6,500 Administrative costs 55,000 Rental of office space for administrative staff 17,500 Sales commissions 52,500 Direct material 1,240,000 Indirect materials 633,000 Advertising expense 39,000 Depreciation on factory building 63,000 Indirect labor, wages 80,000 Production supervisor's salary 31,000 Use the above cost data to complete the table...
Wachowski Company reported the following cost data for the year 2017. Factory maintenance costs $90,000 Direct...
Wachowski Company reported the following cost data for the year 2017. Factory maintenance costs $90,000 Direct labor, wages 353,000 Direct labor, health insurance 33,000 Indirect labor, health insurance 16,000 Health insurance for production supervisor Administrative costs Rental of office space for administrative staff Sales commissions Direct material 6,500 54,000 18,500 53,000 1,240,000 632,000 39,000 62,000 70,000 32,000 Indirect materials Advertising expense Depreciation on factory building Indirect labor, wages Production supervisor's salary Use the above cost data to complete the table...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30,...
The following financial statements and additional information
are reported.
IKIBAN INC.
Comparative Balance Sheets
June 30, 2019 and 2018
2019
2018
Assets
Cash
$
74,900
$
65,000
Accounts receivable, net
96,500
72,000
Inventory
84,800
118,000
Prepaid expenses
6,500
9,600
Total current assets
262,700
264,600
Equipment
145,000
136,000
Accum. depreciation—Equipment
(37,500
)
(19,500
)
Total assets
$
370,200
$
381,100
Liabilities and Equity
Accounts payable
$
46,000
$
61,500
Wages payable
8,100
19,200
Income taxes payable
5,500
8,000
Total current liabilities...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30,...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 $ 106,300 68,000 65,800 4,600 244,700 126,000 (28,000) $342,700 $ 46,000 53,000 89,500 5,800 194,300 117,000 (10,000) $301,300 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value...
Wilson Manufacturing reports the following costs and expenses in June 2015. Indirect materials $ 900 Direct labor $11,000 Depreciation on manufacturing Property taxes on factory building 2,100 equipment 11,000 Office equipment Indirect labor 3,000 repairs 300 Property taxes on office Office supplies 650 building 870 Factory utilities 1,490 CEO salary 12,000 Repairs on manufacturing Direct materials 13,200 equipment 2,180 Instructions Determine the total amount of (a) manufacturing overhead costs, (b) other product costs and (c) period costs.
Instructions (a) Identify each of the above costs as direct materials, direct labor, manufactu head, or period costs. (b) Explain the basic difference in accounting for product costs and period costs. ect labor, manufacturing over- $69,100 46,400 E14.4 Knight Company reports the following costs and expenses in May. Factory utilities $ 15,500 Direct labor Depreciation on factory Sales salaries equipment 12,650 Property taxes on factory Depreciation on delivery trucks 3,800 building Indirect factory labor 48,900 Repairs to office equipment Indirect...
Closet Links Clothing Company provided the following manufacturing costs for the month of June Direct labor cost Direct materials cost $140,000 81,000 (straight-line) Factory insurance Factory manager's salary Janitor's salary Packaging costs Property taxes From the above information, calculate Closet Link's total variable costs. 22,000 12,000 11,400 5,000 19,000 16,000 OA. $221,000 OB. $66,400 O C. $306,400 O D. $240,000
Direct Materials and Direct Labor Variances At the beginning of June, Kimber Toy Company budgeted 12,000 toy action figures to be manufactured in June at standard direct materials and direct labor costs as follows: Direct materials Direct labor $18,000 11,760 $29,760 Total The standard materials price is $0.60 per pound. The standard direct labor rate is $14.00 per hour. At the end of June, the actual direct materials and direct labor costs were as follows: Actual direct materials $16,400 Actual...
ignore the answer i put
Benson Corporation reported the following costs for the period: Materials used to manufacture product $120,000 Wages for assembly line workers $62,800 Property taxes for factory $14,000 Rent & utilities for administrative office $16,000 Salary for factory manager $8,400 CEO's salary $12,000 Depreciation on delivery equipment $11,200 What is the total amount of Benson's product costs for the period? O A. $91,100 OB. $205,200 OC. $216,400 OD. $196,400
Wachowski Company reported the following cost data for the year 2017. Factory maintenance costs $90,000 Direct labor, wages 353,000 Direct labor, health insurance 33,000 Indirect labor, health insurance 16,000 Health insurance for production supervisor Administrative costs Rental of office space for administrative staff Sales commissions Direct material 6,500 54,000 18,500 53,000 1,240,000 632,000 39,000 62,000 70,000 32,000 Indirect materials Advertising expense Depreciation on factory building Indirect labor, wages Production supervisor's salary Use the above cost data to complete the table...
The following financial statements and additional information
are reported.
IKIBAN INC.
Comparative Balance Sheets
June 30, 2019 and 2018
2019
2018
Assets
Cash
$
74,900
$
65,000
Accounts receivable, net
96,500
72,000
Inventory
84,800
118,000
Prepaid expenses
6,500
9,600
Total current assets
262,700
264,600
Equipment
145,000
136,000
Accum. depreciation—Equipment
(37,500
)
(19,500
)
Total assets
$
370,200
$
381,100
Liabilities and Equity
Accounts payable
$
46,000
$
61,500
Wages payable
8,100
19,200
Income taxes payable
5,500
8,000
Total current liabilities...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 $ 106,300 68,000 65,800 4,600 244,700 126,000 (28,000) $342,700 $ 46,000 53,000 89,500 5,800 194,300 117,000 (10,000) $301,300 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value...
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