Kennedy Company reports the following costs and expenses in May. Factory utilities $ 13,500 Direct labor...

Kennedy Company reports the following costs and expenses in May.

Factory utilities $ 13,500 Direct labor $79,100

Depreciation on factory Sales salaries 48,400

equipment 12,650 Property taxes on factory

Depreciation, delivery trucks 3,800 building 2,500

Indirect factory labor 48,900 Electrical upgrade, factory 1,300

Indirect materials 70,800 Factory repairs 2,000

Direct materials used 157,600 Advertising 23,000

Factory manager's salary 8,000 Property taxes, home office 2,640

Instructions

From the information, prepare schedules to determine the total amount of:

Manufacturing overhead.

Product costs (all components).

( c ) Period costs.

Solutions

Expert Solution

A.	Manufacturing overhead
	Factory utilities	13,500
	Depreciation on factory equipment	12,650
	Indirect factory labor	48,900
	Indirect materials	70,800
	Factory manager's salary	8,000
	Property taxes on factory building	2,500
	Factory repairs	2,000
	Manufacturing overhead	158,350


B.	Product costs
	Direct materials	157,600
	Direct labor	79,100
	Manufacturing overhead	158,350
	Product costs	395,050


C.	Period costs
	Depreciation on delivery trucks	3,800
	Sales salaries	48,400
	Repairs to office equipment	1,300
	Advertising	23,000
	Office supplies used	2,640
	Period costs	79,140

ekkarill92 answered 1 year ago

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