Question
In: Accounting
Sobota Corporation has provided the following partial listing of costs incurred during August: Marketing salaries $...
Sobota Corporation has provided the following partial listing of costs incurred during August:
Marketing salaries $ 54,500
Property taxes, factory $ 12,500
Administrative travel $ 103,400
Sales commissions $ 53,800
Indirect labor $ 43,700
Direct materials $ 171,900
Advertising $ 140,300
Depreciation of production equipment $ 41,400
Direct labor $ 93,400
a. What is the total amount of product cost listed above?
b. What is the total amount of period cost listed above?
Solutions
Expert Solution
a) Product costs are those costs which are included in the cost of a product. These costs include direct materials, direct labor and manufacturing overhead expenses.
Total amount of product cost listed above
= Factory property taxes+Indirect labor+Direct materials+Depreciation+Direct Labor
= $12,500+$43,700+$171,900+$41,400+$93,400 = $362,900
b) Period costs are those costs which do not form part of the cost of units produced and incurred on the basis of the period. (For example per month, per year etc)
Total amount of period cost listed above
= Salaries+Admn Travel+Sales Commissions+Advertising
= $54,500+$103,400+$53,800+$140,300 = $352,000
ekkarill92 answered 2 years agoRelated Solutions
Eagle Corporation has provided the following partial listing of costs incurred during August: Marketing salaries $...
Eagle Corporation has provided the following partial listing of
costs incurred during August:
Marketing
salaries
$
46,400
Property taxes,
factory
$
18,500
Administrative
travel
$
98,900
Sales
commissions
$
50,000
Indirect labor
$
38,900
Direct
materials
$
172,400
Advertising
$
147,800
Depreciation of
production equipment
$
46,900
Direct labor
$
87,500
Required:
a.
What is the total amount of
product cost listed above?
b.
What is the total amount of...
Sobota Corporation has provided the following partial listing of costs incurred during August: Marketing salaries $...
Sobota Corporation has provided the following partial listing of
costs incurred during August:
Marketing
salaries
$
47,100
Property taxes,
factory
$
15,000
Administrative
travel
$
105,300
Sales
commissions
$
57,300
Indirect labor
$
46,100
Direct
materials
$
168,200
Advertising
$
140,000
Depreciation of
production equipment
$
41,500
Direct labor
$
95,900
Required:
a.
What is the total amount of
product cost listed above?
b.
What is the total amount of...
Sobota Corporation has provided the following partial listing of costs incurred during August: Marketing salaries $...
Sobota Corporation has provided the following partial listing of
costs incurred during August:
Marketing salaries
$
51,900
Property taxes, factory
$
10,300
Administrative travel
$
105,000
Sales commissions
$
52,400
Indirect labor
$
44,100
Direct materials
$
172,600
Advertising
$
144,000
Depreciation of production equipment
$
48,300
Direct labor
$
94,500
Required:
a.
What is the
total amount of product cost listed above?
Total product cost __________
b.
What is...
A partial listing of costs incurred at Archut Corporation during September appears below: Direct materials $...
A partial listing of costs incurred at Archut Corporation during
September appears below:
Direct materials
$ 113,000
Utilities, factory
$ 5,000
Administrative salaries
$ 81,000
Indirect labor
$ 25,000
Sales commissions
$ 48,000
Depreciation of production equipment
$ 20,000
Depreciation of administrative equipment
$ 30,000
Direct labor
$ 129,000
Advertising
$ 135,000
The total of the manufacturing overhead costs listed above for
September is:
Multiple Choice
$30,000
$50,000
$292,000
$586,000
**************************************************************************
Flesch Corporation produces and sells two products. In the...
Diaz Company incurred the following costs during the year 2020. 1. Salaries expense related to design...
Diaz Company incurred the following costs during the year
2020.
1.
Salaries expense related to design for a trademark with an
indefinite estimated life
$12,000
2.
Materials used for research and development projects for the
current year
20,000
3.
Fees paid to external consultants related to research and
development projects
60,000
4.
Trouble-shooting in connection with breakdowns during
production
36,000
5.
Design of tooling involving new technology
18,000
6.
Cost of equipment (purchased January 2019) that will have
alternative uses...
Diaz Company incurred the following costs during the year 2020. 1. Salaries expense related to design...
Diaz Company incurred the following costs during the year
2020.
1.
Salaries expense related to design for a trademark with an
indefinite estimated life
$12,000
2.
Materials used for research and development projects for the
current year
20,000
3.
Fees paid to external consultants related to research and
development projects
60,000
4.
Trouble-shooting in connection with breakdowns during
production
36,000
5.
Design of tooling involving new technology
18,000
6.
Cost of equipment (purchased January 2019) that will have
alternative uses...
Buck & Company incurred the following costs during August: Raw materials purchased $ 43,270 Direct labor...
Buck & Company incurred the following costs during August:
Raw materials purchased $ 43,270 Direct labor ($12.3 per hour)
54,366 Manufacturing overhead (actual) 90,140 Selling expenses
31,450 Administrative expenses 14,150 Interest expense 6,274
Manufacturing overhead is applied on the basis of $19 per direct
labor hour. Assume that overapplied or underapplied overhead is
transferred to cost of goods sold only at the end of the year.
During the month, 4,040 units of product were manufactured and
4,500 units of product...
Maryville, Inc., incurred the following costs during August: Raw materials used $ 34,700 Direct labor 51,600...
Maryville, Inc., incurred the following costs during
August:
Raw materials used
$
34,700
Direct labor
51,600
Manufacturing overhead,
actual
48,100
Selling expenses
29,120
Administrative expenses
15,580
Interest expense
10,000
During the month, 5,600 units of product were manufactured and
3,900 units of product were sold. On August 1, Maryville, Inc.,
carried no inventories. On August 31, there were no inventories
other than finished goods.
Required:
a. Calculate the cost of goods manufactured
during August and the average cost per unit...
Maryville, Inc., incurred the following costs during August: Raw materials used $ 30,400 Direct labor 50,500...
Maryville, Inc., incurred the following costs during
August:
Raw materials
used
$
30,400
Direct
labor
50,500
Manufacturing
overhead, actual
40,100
Selling
expenses
25,130
Administrative
expenses
20,670
Interest
expense
10,000
During the month, 5,500 units of product were manufactured and
4,000 units of product were sold. On August 1, Maryville, Inc.,
carried no inventories. On August 31, there were no inventories
other than finished goods.
Required:
a. Calculate the cost of goods manufactured
during August and the average cost per unit...
During the month of January, the following costs were incurred:
During the month of January, the following costs were incurred:
2010
Jan 8 Purchased Materials for cash, $150,000
Jan 10 Requisition for Direct Materials that were put into production, $100,000
Jan 20 Requisitioned for Indirect Materials that were put into production, $4,000.
Jan 23 Direct Labor cost incurred during the period, $60,000 when the labor rate per hour was $5.
Jan 25 Indirect labor cost incurred during the month of January is $6,000.
Jan 28 Paid factory supervisor’s salaries...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- JAVA Write a test program that prompts the user to enter a series of integers and...
- (2) Cite an example on how organizations like Google, Facebook, Youtube etc collect data for image...
- The legal landscape is perpetually changing. Psychologists must remain abreast of these changes to avoid potentially...
- We are evaluating a project that costs $1.68 million, has a six-year life, and has no...
- In C++ Having call-by-reference allows one to use storeback parameters, i.e., parameters whose values are transmitted...
- You must evaluate a proposal to buy a new milling machine. The base price is $175,000,...
- “Triangle Guessing” game in Python The program accepts the lengths of three (3) sides of a...
ADVERTISEMENT