determine the total amount of manufacturing overhead,product costs & period costs

Caroline Company reports the following costs and expenses in May.
Factory Utilities 11,500
Depreciation on factory equipment 12,650
Depreciation on delivery trucks 3,800
Indirect factory labor 48,900
indirect materials 80,800
Direct materials used 137,600
Factory manager's salary 8,000
Direct labor 69,100
Sales salaries 46,400
Property taxes on factory building 2,500
Repairs to office equipment 1,300
factory repairs 2,000
Advertising 18,000
office supplies used 2,640

Instructions
From the information, determine the total amount of:
(a) Manufacturing overhead.
(b) Product costs.
(c) Period costs.

Solutions

Expert Solution

Req (a)

Calculation of Manufacturing Overhead

Particulars	Amount$
Factory utilities	11,500
Depreciation on factory equipment	12,650
Indirect factory labor	48,900
Indirect materials	80,800
Factory manager's Salary	8,000
Property taxes on factory building	2,500
Factory repairs	2,000
Manufacturing overhead	1,66,350

Req (b)

Calculation of Product Costs

Particulars	Amount$
Direct materials	1,37,600
Direct labor	69,100
Manufacturing overhead	1,66,350
Product Costs	3,73,050

Req(c)

Calculation of Period Costs

Particulars	Amount$
Depreciation on delivery trucks	3,800
Sales Salaries	46,400
Repairs to office equipment	1,300
Advertising	18,000
Office supplies used	2,640
Period costs	72,140

Answer to the above question clearly shown in the explanation option

balaji rao answered 2 years ago

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