ABC Company recorded the following information related to their
inventory accounts for 2019:
January 1, 2019 December 31, 2019
Direct materials 50,000 37,000
Work in process 38,000 41,000
Finished goods 22,000 35,000
ABC Company's accounting records for 2019 indicated the following
costs had been incurred:
Direct materials purchased ................... $124,000
Depreciation, factory equipment .............. 30,000
Direct labor ................................. 97,000
Utilities..................................... 18,000
Sales commissions............................. 65,000
Indirect materials............................ 25,000
Depreciation, office equipment ............... 17,000
Production supervisor's salary ............... 76,000
Advertising................................... 61,000
60% of the utilities relate to the factory while 40% of the
utilities relate to the general office building.
Calculate the total period costs incurred during 2019.Total period cost=$150,200
Working
| Total period cost | |
| General Utilities | $ 7,200.00 |
| Depreciation, office equipment | $ 17,000.00 |
| Sales commission | $ 65,000.00 |
| Advertising | $ 61,000.00 |
| Total period cost | $ 150,200.00 |
Period cost are basically all general, selling and administrative expenses.
ABC Company recorded the following information related to their inventory accounts for 2019: January 1, 2019...
ABC Company recorded the following information related to their inventory accounts for 2019: January 1, 2019 December 31, 2019 Direct materials 50,000 37,000 Work in process 38,000 41,000 Finished goods 22,000 35,000 ABC Company's accounting records for 2019 indicated the following costs had been incurred: Direct materials purchased ................... $124,000 Depreciation, factory equipment .............. 30,000 Direct labor ................................. 97,000 Utilities..................................... 18,000 Sales commissions............................. 65,000 Indirect materials............................ 25,000 Depreciation, office equipment ............... 17,000 Production supervisor's salary ............... 76,000 Advertising................................... 61,000 60%...
ABC Company recorded the following information related to their inventory accounts for 2020: January 1, 2020 December 31, 2020 Direct materials 50,000 36,000 Work in process 22,000 41,000 Finished goods 38,000 35,000 ABC Company's accounting records for 2020 indicated the following costs had been incurred: Direct materials purchased ................... $124,000 Depreciation, factory equipment .............. 40,000 Direct labor ................................. 97,000 Utilities..................................... 20,000 Sales commissions............................. 56,000 Indirect materials............................ 18,000 Depreciation, office equipment ............... 27,000 Production supervisor's salary ............... 67,000 Advertising................................... 61,000 60%...
XYZ Company recorded the following information related to their inventory accounts for 2020: January 1, 2020 December 31, 2020 Direct materials 37,000 50,000 Work in process 38,000 41,000 Finished goods 22,000 34,000 The following information was taken from XYZ Company's accounting records for 2020: Sales revenue ........................................... $630,000 Direct materials purchased .............................. ? Depreciation, factory equipment ......................... 34,000 Prime costs ............................................. 250,000 Utilities (60% for factory; 40% for office building) .... 20,000 Sales commissions ....................................... 29,000 Indirect materials ...................................... 25,000...
XYZ Company recorded the following information related to their inventory accounts for 2020: January 1, 2020 December 31, 2020 Direct materials 37,000 50,000 Work in process 38,000 41,000 Finished goods 22,000 34,000 The following information was taken from XYZ Company's accounting records for 2020: Sales revenue ........................................... $630,000 Direct materials purchased .............................. ? Depreciation, factory equipment ......................... 34,000 Prime costs ............................................. 250,000 Utilities (60% for factory; 40% for office building) .... 20,000 Sales commissions ....................................... 29,000 Indirect materials ...................................... 25,000...
XYZ Company recorded the following information related to their inventory accounts for 2020: January 1, 2020 December 31, 2020 Direct materials 37,000 50,000 Work in process 38,000 41,000 Finished goods 22,000 34,000 The following information was taken from XYZ Company's accounting records for 2020: Sales revenue ........................................... $630,000 Direct materials purchased .............................. ? Depreciation, factory equipment ......................... 34,000 Prime costs ............................................. 250,000 Utilities (60% for factory; 40% for office building) .... 20,000 Sales commissions ....................................... 29,000 Indirect materials ...................................... 25,000...
XYZ Company recorded the following information related to their inventory accounts for 2020: January 1, 2020 December 31, 2020 Direct materials 50,000 37,000 Work in process 38,000 41,000 Finished goods 32,000 34,000 The following costs were taken from XYZ Company's accounting records for 2020: Direct materials purchased .............................. $129,000 Depreciation, factory equipment ......................... 37,000 Sales revenue ........................................... 590,000 Utilities (60% for factory; 40% for office building) .... 30,000 Sales commissions ....................................... ? Indirect materials ...................................... 29,000 Depreciation, office equipment .............................
XYZ Company recorded the following information related to their inventory accounts for 2020: January 1, 2020 December 31, 2020 Direct materials 50,000 37,000 Work in process 38,000 41,000 Finished goods 32,000 34,000 The following costs were taken from XYZ Company's accounting records for 2020: Direct materials purchased .............................. $129,000 Depreciation, factory equipment ......................... 37,000 Sales revenue ........................................... 590,000 Utilities (60% for factory; 40% for office building) .... 30,000 Sales commissions ....................................... ? Indirect materials ...................................... 29,000 Depreciation, office equipment .............................
XYZ Company recorded the following information related to their inventory accounts for 2020: January 1, 2020 December 31, 2020 Direct materials 50,000 37,000 Work in process 38,000 41,000 Finished goods 32,000 34,000 The following costs were taken from XYZ Company's accounting records for 2020: Direct materials purchased .............................. $129,000 Depreciation, factory equipment ......................... 37,000 Sales revenue ........................................... 590,000 Utilities (60% for factory; 40% for office building) .... 30,000 Sales commissions ....................................... ? Indirect materials ...................................... 29,000 Depreciation, office equipment .............................
XYZ Company recorded the following information related to their inventory accounts for 2020: January 1, 2020 December 31, 2020 Direct materials 50,000 37,000 Work in process 38,000 41,000 Finished goods 32,000 34,000 The following costs were taken from XYZ Company's accounting records for 2020: Direct materials purchased .............................. $129,000 Depreciation, factory equipment ......................... 37,000 Sales revenue ........................................... 590,000 Utilities (60% for factory; 40% for office building) .... 30,000 Sales commissions ....................................... ? Indirect materials ...................................... 29,000 Depreciation, office equipment .............................
XYZ Company recorded the following information related to their inventory accounts for 2020: January 1, 2020 December 31, 2020 Direct materials 50,000 37,000 Work in process 38,000 41,000 Finished goods 32,000 34,000 The following costs were taken from XYZ Company's accounting records for 2020: Direct materials purchased .............................. $129,000 Depreciation, factory equipment ......................... 37,000 Sales revenue ........................................... 590,000 Utilities (60% for factory; 40% for office building) .... 30,000 Sales commissions ....................................... ? Indirect materials ...................................... 29,000 Depreciation, office equipment .............................