Kignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year: Cost of clay used in production $ 83,000 Wages paid to the workers who paint the figurines $ 90,000 Wages paid to the sales manager's secretary 24 42,000 Cost of junk mail advertising $ 59,000 What is the total of the direct costs above? %24 %24

Kignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year: Cost of clay used in production $ 83,000 Wages paid to the workers who paint the figurines $ 90,000 Wages paid to the sales manager's secretary 24 42,000 Cost of junk mail advertising $ 59,000 What is the total of the direct costs above? %24 %24

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 4EA: Hicks Contracting collects and analyzes cost data in order to track the cost of installing decks on...

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Vignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year: Cost of clay used in production $ 75,000 Wages paid to the workers who paint the figurines $ 86,000 Wages paid to the sales manager's secretary $ 38,000 Cost of junk mail advertising $ 55,000 What is the total of the product costs above? $179,000 $93,000 $161,000 $0
Vignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year: Cost of clay used in production $ 63,000 Wages paid to the workers who paint the figurines $ 80,000 Wages paid to the sales manager's secretary $ 32,000 Cost of junk mail advertising $ 49,000 What is the total of the direct costs above?
Vignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year: Cost of clay used In production $ 66,000 Wages pald to the workers who palnt the figurlnes $ 94,000 Wages pald to the sales manager's secretary $ 26,000 Cost of Junk mall advertlsing $ 43,000 What is the total of the direct costs above?
Vignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year: Cost of clay used In production $ 67,000 Wages pald to the workers who palnt the figurlnes $ 82,000 Wages pald to the sales manager's secretary $ 34,000 Cost of Junk mall advertising $ 51,000 What is the total of the product costs above?
Vignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year: Cost of clay used in production $ 66,000 Wages paid to the workers who paint the figurines $ 94,000 Wages paid to the sales manager's secretary $ 26,000 Cost of junk mail advertising $ 43,000 What is the total of the conversion costs above?
Roper Furniture manufactures office furniture and tracks cost data across their process. The following are some of the costs that they incur. Classify these costs as fixed or variable costs, and as product costs or period costs. Wood used to produce desks ($125,00 per desk) Production labor used to produce desks ($15 per hour) Production supervisor salary ($45,000 per year) Depreciation on factory equipment ($60,000 per year) Selling and administrative expenses ($45,000 per year) Rent on corporate office ($44,000 per year) Nails, glue, and other materials required to produce desks (varies per desk) Utilities expenses for production facility Sales staff commission (5% of gross sales)
Hicks Contracting collects and analyzes cost data in order to track the cost of installing decks on new home construction jobs. The following are some of the costs that they incur. Classify these costs as fixed or variable costs and as product or period costs. Lumber used to construct decks ($12.00 per square foot) Carpenter labor used to construct decks ($10 per hour) Construction supervisor salary ($45,000 per year) Depreciation on tools and equipment ($6,000 per year) Selling and administrative expenses ($35,000 per year) Rent on corporate office space ($34,000 per year) Nails, glue, and other materials required to construct deck (varies per job)
Jean and Tom Perritz own and manage Happy Home Helpers, Inc. (HHH), a house-cleaning service. Each cleaning (cleaning one house one time) takes a team of three house cleaners about 1.5 hours. On average, HHH completes about 15,000 cleanings per year. The following total costs are associated with the total cleanings: Next year, HHH expects to purchase 25,600 of direct materials. Projected beginning and ending inventories for direct materials are as follows: There is no work-in-process inventory; in other words, a cleaning is started and completed on the same day. Required: 1. Prepare a statement of services produced in good form. 2. What if HHH planned to purchase 30,000 of direct materials? Assume there would be no change in beginning and ending inventories of materials. Explain which line items on the statement of services produced would be affected and how (increase or decrease).
Jean and Tom Perritz own and manage Happy Home Helpers, Inc. (HHH), a house-cleaning service. Each cleaning (cleaning one house one time) takes a team of three house cleaners about 1.5 hours. On average, HHH completes about 15,000 cleanings per year. The following total costs are associated with the total cleanings: Next year, HHH expects to purchase 25,600 of direct materials. Projected beginning and ending inventories for direct materials are as follows: There is no work-in-process inventory and no finished goods inventory; in other words, a cleaning is started and completed on the same day. HHH expects to sell 15,000 cleanings at a price of 45 each next year. Total selling expense is projected at 22,000, and total administrative expense is projected at 53,000. Required: 1. Prepare an income statement in good form. 2. What if Jean and Tom increased the price to 50 per cleaning and no other information was affected? Explain which line items in the income statement would be affected and how.
Jean and Tom Perritz own and manage Happy Home Helpers. Inc. (HHH), a house-cleaning service. Each cleaning (cleaning one house one time) takes a team of three house cleaners about 1.5 hours. On average, HHH completes about 15,000 cleanings per year. The following total costs are associated with the total cleanings: Next year, HHH expects to purchase 25,600 of direct materials. Projected beginning and ending inventories for direct materials are as follows: There is no work-in-process inventory and no finished goods inventory; in other words, a cleaning is started and completed on the same day. Required: 1. Prepare a statement of cost of services sold in good form. 2. How does this cost of services sold statement differ from the cost of goods sold statement for a manufacturing firm?
The Bello Horizonte Company is a textile company that specializes in manufacturing promotional items for jackets with embroidered logos. It uses machine hours as the only allocation base. These are the estimates for next year. We also have the estimates for the jackets that the EGAE asks us to promote its new eMBA. What is the amount of indirect costs that will be distributed or allocated (allocated) to EGAE's work? Company eMBA EGAE Direct Materials $40,000 $2,000 Direct Labor $10,000 $400 Manufacturing Overhead Cost $45,000 Manufacturing Hours 100,000 mh 900 mh Required: How much will the total cost of the eMBA EGAE order be? a. $2,805 b. $1,920 c. $1,970 d. $2,905
Martinez Products manufactures a line of desk chairs. Martinez's production operations are divided into two departments — Department 1 and Department 2. The company uses a process costing system. Martinez incurred the following costs during the year to produce 26,300 chairs: Department 1 $860,500 Department 2 $295,000 If Martinez sells 22,700 chairs during the year, what will be the cost per chair produced? (Round your answer to two decimal places.) A. $37.91 B. $50.90 C. $43.94 D. 32.72