FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Refer to the following data:
Direct material used $160 000
Marketing costs $ 5 000
Indirect labour $ 6 000
Wages of assembly line workers $ 30 000
Factory cleaners wages $ 25 000
Depreciation of computers used in a sales department $20 000
Oil consumed by sewing machines $ 5 000
Required:
Determine each of the following costs: (list the costs under each cost category when calculating the answer).
- i) Product costs
ii) Period costs
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- Classify each of the following costs as either variable, fixed, or mixed. Costs are from a manufacturer of portable basketball hoops. 1. Factory supervisor salary, $5,200 per month 2. Utilities, $40 per month plus $0.05 per unit produced 3. Assembly worker hourly wages 4. Factory equipment depreciation, $3,200 per month 5. Salesperson pay, $3,200 per month plus 4% of dollar sales. 6. Factory insurance, $2,700 per month 7. Screws to assemble hoops 8. Factory rent, $4,200 per month 9. Metal for rims 10. Glass for backboards 11. Office salaries, $4,200 per month 12. Plastic for hoop bases Fixed Mixed Variablearrow_forwardSporty Manufacturing Co. assembled the following cost data for job #26: (Click the icon to view the cost data.) What are the total manufacturing costs for job #26 if the company uses normal job costing? A. $209,100 B. $207,400 C. $209,700 D. $205,900 Cost Data Direct manufacturing labor Indirect manufacturing labor Equipment depreciation Other indirect manufacturing costs Direct materials Indirect materials Manufacturing overhead overapplied $ 100,000 17,000 600 1,000 85,000 3,800 2,300 Xarrow_forward! Required information [The following information applies to the questions displayed below.] Acacia Manufacturing has compiled the following information from the accounting system for the one product it sells: Sales price Fixed costs (for the month) Marketing and administrative Manufacturing overhead Variable costs (per unit) Marketing and administrative Direct materials Manufacturing overhead Direct labor Units produced and sold (for the month) Required: a. Calculate the product costs per unit. Note: Round your answer to 2 decimal places. b. Calculate the period costs for the period. Product costs per unit b. Period costs $80 per unit $ 23,800 $ 9,100 $9 $20 $ 10 $16 21,000arrow_forward
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