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In: Accounting

Complete the following questions using Microsoft Excel. No other submission format is allowed. Review the grading...

Complete the following questions using Microsoft Excel. No other submission format is allowed. Review the grading rubric to confirm you are meeting the assignment requirements. (All amounts in SAR except units.)

Given the following information for Dorttmund Corporation:

Advertising costs

320,000

Office rent

240,000

Direct materials

800,000

Delivery vehicle depreciation

90,000

Factory repair and maintenance

420,000

Sales salary

510,000

Indirect labor

220,000

Manufacturing equipment depreciation

180,000

Administrative salaries

360,000

President's salary

700,000

Sales revenue

5,200,000

Indirect materials

190,000

Direct labor

1,500,000

Machine hours

2,000

Direct Labor hours

10,000

Machine hours per unit

3

Direct labor hours per unit

6

Direct materials per unit

?

Units manufactured

500

Units sold

350

  1. Identify (list) and total period costs
  2. Calculate overhead per unit based on machine hours
  3. Calculate total product costs for units manufactured
  4. Calculate total cost of goods sold
  5. Prepare income statement in good form assuming no beginning inventory

You must show all your work for credit.

Solutions

Expert Solution

solution a) period cost means cost which are not related to production of a product  such as selling , adevertising cost ,adminisatarion expenses etc.

for easily understanding ask a question to itself that the cost is directly or indirectly related to production if answer is No then it is period cost .

particuilars amount
Advertising costs 3,20,000
office rent 2,40,000
Delivery vehicle depreciation 90,000
sales salary 5,10,000
Administrative salaries 3,60,000
president's salary 7,00,000
TOTAL PERIOD COST 22,20,000

solution b)

overhead cost

Advertising costs 3,20,000

Administrative salaries = 3,60,000

indirect labour =220,000

indirect material = 190,000

office rent =2,40,000

president salary = 700000

sales salary = 5,10,000

total overhead = 25,40,000

machine hours =2000

overhead per machine hour = 25,40,000 / 2000

= 1270 per hour

unit manufactured =500

machine hour per unit =2000/500 = 4 hours per unit  

overhead per unit based on machine hour = 4 x 1270 =5080


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