Please answer in text Please answer 7Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2018:Factory rantCompany advertisingWages paid to seamatressesDepreciation on salempersons vehiclesThreadUtilities for factoryCutting room supervisor's salaryPresident's salaryPremium quality cotton materialButtons36,50025,50076,80031,3001,04024,00030,30075, 80041,600840Factory insuranceDepreciation on sewing machinesWages paid to cutters18,4006,90050,500Required:1. Compute the cost of direct materials for Cotton White.2. Compute the cost of direct labor for Cotton White.3. Compute the cost of menufacturing overhead for Cotton White.4. Compute the total manufacturing cost for Cotton White.5. Compute the prime cost for Cotton White.6. Compute the conversion cost for Cotton White.7. Compute the total period cost for Cotton White.

Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2018: Factory rent Company advertising Wages paid to seamatressen Depreciation on nalespersons vehicles Thread Utilities for factory Cutting room supervisor 's salary President's salary Premium quality cotton material $ 36,500 25,500 76,800 31,300 1,040 24,000 30,300 75, 800 41,600 840 Buttone Factory insurance Depreciation on sewing machines Wages paid to cutters 18,400 6,900 50,500 Required: 1. Compute the cost of direct materials for Cotton White. 2. Compute the cost of direct labor for Cotton White. 3. Compute the cost of menufacturing overhead for Cotton White. 4. Compute the total manufacturing cost for Cotton White.

Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2018: Factory rent Company advertising Wages paid to seamatressen Depreciation on nalespersons vehicles Thread Utilities for factory Cutting room supervisor 's salary President's salary Premium quality cotton material $ 36,500 25,500 76,800 31,300 1,040 24,000 30,300 75, 800 41,600 840 Buttone Factory insurance Depreciation on sewing machines Wages paid to cutters 18,400 6,900 50,500 Required: 1. Compute the cost of direct materials for Cotton White. 2. Compute the cost of direct labor for Cotton White. 3. Compute the cost of menufacturing overhead for Cotton White. 4. Compute the total manufacturing cost for Cotton White.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter1: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 4E: For apparel manufacturer Abercrombie Fitch, Inc. (ANF), classify each of the following costs as...

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For apparel manufacturer Abercrombie Fitch, Inc. (ANF), classify each of the following costs as either a product cost or a period cost: a. Advertising expenses b. Chief financial officers salary c. Depreciation on office equipment d. Depreciation on sewing machines e. Fabric used during production f. Factory janitorial supplies g. Factory supervisors salaries h. Property taxes on factory building and equipment i. Oil used to lubricate sewing machines j. Repairs and maintenance costs for sewing machines k. Research and development costs l. Sales commissions m. Salaries of distribution center personnel n. Salaries of production quality control supervisors o. Travel costs of media relations employees p. Utility costs for office building q. Wages of sewing machine operators
This cost data from Hickory Furniture is for the year 2017. Using the high-low method, express the factory utility expenses as an equation where x represents number of chairs produced. Predict the utility costs if 900 chairs are produced. Predict the utility costs if 750 chairs are produced. Using Excel, create a scatter graph of the cost data and explain the relationship between number of chairs processed and utility expenses.
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Question Bags R Us manufactures back packs for schools. The business uses a perpetual inventory systemand has a highly labour intensive production process, so it applies manufacturing overhead basedon direct labour hours. Any overhead variance is closed out to Cost of Goods Sold.The business’s pre-determined overhead application rate for 2018 was computed from thefollowing data:Total estimated factory overheadsTotal estimated direct labour hours$4,200,00035,000During the first month of 2018, the business recorded the following transactions.i) Purchased materials on account, $500,000ii) Incurred manufacturing wages of $1,065,000iii) Issued direct materials and used direct labour in manufacturingDirect Materials Direct Labour Direct Labour HoursJob 401 $100,000 $220,000 1,200Job 402 81,000 190,000 1,000Job 403 90,000 205,000 1,100Job 404 150,000 290,250 1,800iv) Issued indirect materials to production, $80,000v) Charged indirect manufacturing wages to production, $159,750vi)…
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Haley Corporation manufactures custom cabinets for kitchens. It uses a normal-costing system with two direct cost categories-direct materials and direct manufacturing labor and one indirect-cost pool, manufacturing overhead costs. View the manufacturing overhead costs information for 2020. View the other information available as of December 31, 2020. Requirement Calculate the underallocated or overallocated manufacturing overhead at the end of 2020 and prorate it to Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold accounts based on the allocated manufacturing overhead in each account balance using normal costing. Begin by calculating the budgeted indirect cost rate. Identify the formula and then calculate the rate. (Assume the cost allocation base is direct labor hours.) Budgeted indirect cost rate Information Account Work-in-process control Finished goods control Cost of goods sold Total Account Balance (Before Proration) GA $ GAGA 35,000 65,000 1,700,000…