In: Accounting
Identify all the costs that would be considered part of factory overhead and put an OH in the code column next to them. Identify all the costs that would be consider Selling, General and Administrative expenses and code them as “SGA”. Leave an item blank if it doesn't fall to either of the categories.
Account | Amount |
Supervisor salary | 127,000 |
Production supplies | 14,000 |
WIP January 1 | 135,000 |
WIP December 31 | 142,000 |
Administrative salaries | 404,000 |
Depreciation - manufacturing | 113,000 |
Direct Labor - production | 662,000 |
Water & Sewer - maunfacturing | 1,300 |
Water & Sewer - administrative | 900 |
Finished Goods - January 1 | 147,000 |
Finished Goods - December 31 | 160,000 |
Heat, light, & Power - manufacturing | 87,000 |
Marketing costs | 185,000 |
Misc. manufacturing costs | 15,000 |
Plant maintenance and repairs | 68,000 |
Insurance - manufacturing facility | 5,800 |
Raw Materials Purchases | 504,000 |
Raw Materials - January 1 | 102,000 |
Raw Materials - December 31 | 81,000 |
Sales Revenue | 2,488,000 |
Indirect labor | 22,000 |
Heat, light, & Power - administrative | 22,600 |
Depreciation - administrative | 40,500 |
Selling costs | 19,300 |
Factory security system | 15,550 |
Property taxes - manufacturing | 6,600 |
Property taxes - administrative | 2,000 |
Insurance - admistrative | 4,150 |
TOTAL FACTORY OVERHEAD | |
TOTAL SELLING AND ADMINISTRATIVE |
Answer:
Account | Code | Amount |
Supervisor salary | OH | 127,000 |
Production supplies | 14,000 | |
WIP January 1 | 135,000 | |
WIP December 31 | 142,000 | |
Administrative salaries | SGA | 404,000 |
Depreciation - manufacturing | OH | 113,000 |
Direct Labor - production | 662,000 | |
Water & Sewer - maunfacturing | OH | 1,300 |
Water & Sewer - administrative | SGA | 900 |
Finished Goods - January 1 | 147,000 | |
Finished Goods - December 31 | 160,000 | |
Heat, light, & Power - manufacturing | OH | 87,000 |
Marketing costs | SGA | 185,000 |
Misc. manufacturing costs | OH | 15,000 |
Plant maintenance and repairs | OH | 68,000 |
Insurance - manufacturing facility | OH | 5,800 |
Raw Materials Purchases | 504,000 | |
Raw Materials - January 1 | 102,000 | |
Raw Materials - December 31 | 81,000 | |
Sales Revenue | 2,488,000 | |
Indirect labor | OH | 22,000 |
Heat, light, & Power - administrative | SGA | 22,600 |
Depreciation - administrative | SGA | 40,500 |
Selling costs | SGA | 19,300 |
Factory security system | OH | 15,550 |
Property taxes - manufacturing | OH | 6,600 |
Property taxes - administrative | SGA | 2,000 |
Insurance - admistrative | SGA | 4,150 |
TOTAL FACTORY OVERHEAD | 461,250 | |
TOTAL SELLING AND ADMINISTRATIVE | 678,450 |