Exercise 10-6A (Algo) Identifying product versus SG&A costs LO 10-2, 10-3 A review of the accounting records of Zachary Manufacturing indicated that the company incurred the following payr the month of March. Assume the company's financial statements are prepared in accordance with GAAP. 1. Salary of the company president-$32,800. 2. Salary of the vice president of manufacturing-$15,100. 3. Salary of the chief financial officer-$17,900. 4. Salary of the vice president of marketing-$15,000. 5. Salaries of middle managers (department heads, production supervisors) in manufacturing plant-$189,000. 6. Wages of production workers-$945,000. 7. Salaries of administrative personnel-$111,000. 8. Salaries of engineers and other personnel responsible for maintaining production equipment-$169,000. 9. Commissions paid to sales staff-$245,000. Required

15.

Exercise #1 The following information is estimated by Blue Sea Ltd’s accountant for the upcoming financial year: Sales revenue     3,480,000 Machine hours           54,000 Direct labour hours           81,000 Direct labour rate                  $22.00 Manufacturing overhead     1,326,000   Required: Calculate the predetermined overhead rates assuming that the cost driver is: Direct labour hours Direct labour costs Machine hours

karan subject-Accounting

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Question 23

Problem 13-30 (Algo) Cost of goods manufactured, cost of goods sold, and income statement LO 4, 5, 7 I JUST NEED HELP WITH PART D!! PLEASE!! Morrison & Company incurred the following costs during August:          Raw materials purchased $ 44,060   Direct labor ($12.4 per hour)   54,684   Manufacturing overhead (actual)   90,230   Selling expenses   31,790   Administrative expenses   14,380   Interest expense   6,231     Manufacturing overhead is applied on the basis of $20 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, 4,080 units of product were manufactured and 4,470 units of product were sold. On August 1 and August 31, Morrison & Company carried the following inventory balances:    August 1 August 31 Raw materials $ 19,800   $ 17,700   Work in process   52,700     56,900   Finished goods   41,300     23,631     Required: Prepare a…

Question 39

Problem 4-11 (PHILCPA Adapted) heldo Mercury Company showed cost of goods sold of P4,320,000 after the first year of operations. The total manufacturing cost comprised the following: Materials used Direct labor incurred Manufacturing overhead 50% 30% 20% Goods in process at year-end amounted to 10% of the total manufacturing cost. Finished goods at year-end amounted to 20% of the cost of goods manufactured. What is the amount of the direct labor cost incurred? a. 1,800,000 b. 2,400,000 c. 3,000,000 d. 5,400,000

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