Factory rentCompany advertisingWages paid to sewing personnelDepreciation on salespersons' vehiclesThreadUtilities for factoryCutting room supervisor's salaryPresident's salaryPremium quality cotton materialButtonsFactory insuranceDepreciation on sewing machinesWages paid to cutters1. Direct Materials Cost2. Direct Labor Cost3. Manufacturing Overhead Cost4. Total Manufacturing Cost5. Prime Cost6. Conversion Cost7. Total Period Cost$ 37,80024,20076,300201530, 2001,00024,00030,40075,70041,700795Required: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 manufacturing 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.19,4007,00050,700

Costs are classified as product cost and period cost based on the direct or indirect relation with…

Factory rent Company advertising Wages paid to sewing personnel Depreciation on salespersons' vehicles Thread Utilities for factory Cutting room supervisor's salary President's salary Premium quality cotton material Buttons Factory insurance Depreciation on sewing machines Wages paid to cutters Required: 1. Compute the cost of direct materials for Cotton White. 2. Compute the cost of direct labor for Cotton White. $ 37,800 24,200 76,300 1. Direct Materials Cost 2. Direct Labor Cost 3. Manufacturing Overhead Cost 4. Total Manufacturing Cost 5. Prime Cost 6. Conversion Cost 7. Total Period Cost 30, 200 1,000 24,000 30,400 75,700 41,700 795 19,400 7,000 50,700 3. Compute the cost of manufacturing 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.

Factory rent Company advertising Wages paid to sewing personnel Depreciation on salespersons' vehicles Thread Utilities for factory Cutting room supervisor's salary President's salary Premium quality cotton material Buttons Factory insurance Depreciation on sewing machines Wages paid to cutters Required: 1. Compute the cost of direct materials for Cotton White. 2. Compute the cost of direct labor for Cotton White. $ 37,800 24,200 76,300 1. Direct Materials Cost 2. Direct Labor Cost 3. Manufacturing Overhead Cost 4. Total Manufacturing Cost 5. Prime Cost 6. Conversion Cost 7. Total Period Cost 30, 200 1,000 24,000 30,400 75,700 41,700 795 19,400 7,000 50,700 3. Compute the cost of manufacturing 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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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