The following cost relate to XYZ Corp for the year: Sales commission expenses P 185,000 Direct materials 215,000 Conversion cost 435,000 Factory overhead 190,000 (40% of which is fixed) What is the TOTAL MANUFACTURING (PRODUCT) COSTS?
Q: Swift Co. produces footballs. It incurred the following costs this year: Direct materials $40,000…
A: Absorption costing: Absorption costing is used to compute cost of a product. Under this method total…
Q: Last year, Buckner & Jones Company incurred the following costs: Direct materials $42,000 Direct…
A: Product Cost = Direct material + Direct Labor + Manufacturing Overhead (Indirect manufacturing…
Q: The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct…
A: Prime cost refers to the sum of direct material and direct labor of the entity.
Q: Materials used, P326,000. Total manufacturing costs charged to production during the year (including…
A: Hi student Since there are multiple questions, we will answer only first question. Cost accounting…
Q: Cost Flow Relationships The following information is available for the first year of operations of…
A: a. Calculate cost of goods sold to E Incorporation.
Q: The following costs relate to Antonio Industries for the last quarter: P 435,000 215,000 190,000…
A: Prime cost constitutes all Direct materials & Direct labor involved in the manufacturing of the…
Q: The TOYO Manufacturing Company has the following financial information: · Manufacturing…
A: Total cost of manufacturing = costs of direct materials used + direct labor costs + manufacturing…
Q: Presented below are Truck Company's monthly manufacturing cost data related to its personal computer…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: The accounting records of Hill Corporation revealed the following selected costs: Sales commissions,…
A: Period cost: These costs are not directly related to the process of production but are necessary to…
Q: The following cost data relate to the manufacturing activities of Chang Company during the just…
A: Cost of goods manufactured - Cost of Goods Manufactured is the total cost incurred for manufactured…
Q: Information from the records of the Abel Corporation for July 2018 was as follows: Sales $1,230,000…
A: Prime cost : Prime cost is the direct cost that the company incurs in manufacturing a product or…
Q: Mct Company's total sales are $210,000. The company's direct material cost is $25,000. Its direct…
A: given that , total sales = 210000 direct material cost = 25000…
Q: The following data are from the accounting records of Niles Castings for year 2. Units…
A: Formula: Contribution margin = Sales - variable cost
Q: Burnham Industries incurs the following costs for the month: Direct materials $1,900 Direct labor…
A:
Q: Summarized data for Walrus Co. for its first year of operations are: Sales (110,000 units)…
A: Variable Costing - In this costing method, variable costs are considered while preparing the cost of…
Q: & Poneer Company reported total manufacturing costs of $528,000, manufacturing overhead totaling…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: The Lite Manufacturing Company has the following financial information: · Manufacturing…
A: Solution: Manufacturing overhead = 300,800 Direct labor = Manufacturing overhead / 50% = 300,800 /…
Q: Earthy Sdn Bhd manufactures a product, X, which has the following standard costs per unit: Direct…
A: Break even units are level of activity where company have no profit or loss. Breakeven units =…
Q: The accounting records of Dela Cruz Corporation revealed the following costs direct material used,…
A: Cost of goods sold includes the amount related to cost like direct wages and materials, direct…
Q: During the current year, CF Manufacturing Co. incurred $370,000 of indirect labor costs, $15,000 of…
A: Amount transferred from the manufacturing overhead account includes indirect material, indirect…
Q: The comparative income statement for the month of Uratex Philippines Corp makers of Monoblocks…
A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…
Q: The following information is available for the first year of operations of Creston Inc., a…
A: PLEASE LIKE THE ANSWER, YOUR RESPONSE MATTERS Calculation of cost of goods sold a.…
Q: X Company manufactures a single product. Monthly production costs incurred in the manufacturing…
A: The variable cost includes direct labor costs, direct material costs, factory variable maintenance,…
Q: The Love Manufacturing Company has the following financial information: · Manufacturing…
A: The Cost of Goods Sold (COGS) is the cumulative total of direct costs incurred for the goods or…
Q: The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct…
A: Introduction: Prime costs: Sum of both direct materials and direct labor cost derives the prime…
Q: The following information has been taken from the cost records of NUBD Company for the past year. P…
A: Opening Finished 90000 Closing Finished 110000.
Q: During the year, the following costs and expenses were incurred: Raw materials purchased Direct…
A: In order to determine the cost of goods sold, the beginning finished goods are required to be added…
Q: The James Company has incurred the following costs of production: Particulars Amount ($) Direct…
A: Given the following information: Direct materials: $350,000 Direct labor: $475,000 Manufacturing…
Q: The accounting records of Dela Cruz Corporation revealed the following costs direct material used,…
A: Conversion costs are those costs that are associated with conversion of raw materials into finished…
Q: The cost formulas for Emory Company's manufacturing overhead costs are given below. T cost formulas…
A: 15,000 Machine hours Utilities (15,000 X 0.30) £ 4,500 Indirect…
Q: Chris Company produced and sold 1,000 units during its first month of operations. It reported the…
A: Product cost = Direct materials + Direct labor + Variable manufacturing overhead + Fixed…
Q: Reimer Company reported total manufacturing costs of $425,000, manufacturing overhead totaling…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: The accounting records of Inter Company revealed the following selected costs: Sales commissions,…
A: Product cost are those cost which directly related to production process of a product such as direct…
Q: The Putney Company reports the following information: Sales $76,500 Cost of direct materials…
A: Hence, the product costs is $35,000. It obtained by the addition of the cost of direct material,…
Q: Based on the following information from ASX Corporation, calculate its total contribution margin.…
A:
Q: The following information has been extracted from the financial records of Gabriel Corporation for…
A: Period costs are those costs which are incurred or related to specific period of time. Under…
Q: The following information pertains to a year’s operation of Linda & Co: Units produced…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: The TOYO Manufacturing Company has the following financial information: · Manufacturing…
A: Total cost of manufacturing = costs of direct materials used + direct labor costs + manufacturing…
Q: Direct labor cost $136,000 Direct materials cost 80,000 Equipment depreciation (straight-line)…
A: The cost can be classified into two categories i.e fixed cost and variable cost. The Fixed cost…
Q: 8. The following cost relate to XYZ Corp for the year: Sales commission expenses P 185,000 Direct…
A: Period cost includes: Selling expense Administration expense Depreciation expense Sales commission…
Q: YNP Corportion lists the following costs and expenses for the current year as of December 31. Sales…
A: Part 1:
Q: Jasper Company provided the following information for last year: Costs Amount Sales in units 325,000…
A: Sale revenue means the total sales achieved in the year and income statement shows the revenue and…
Q: The following cost relate to COBEED for the year: Distribution Cost 123,000 Direct Materials…
A: Conversion costs = Direct Labour + Factory overhead 456,000 = Direct Labour + 111,000…
Q: The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct…
A: Prime costs means cost of direct materials and direct labour used for the business. Total…
Q: Mine Company produced 1,000 units of a product at a selling price of P95.00 each. Direct materials…
A: Solution.. Variable cost are the cost which change proportionally with the Change in production…
Q: Questions 5 to 8 are based on the Statement of Income of Davao, Inc. which represents the operating…
A: The following calculations are done in the records of Davao Incorporation.
Q: A company manufactures 1000units of outputs using 5000units of materials @ GHC30 each, and pays…
A: Total product costs = Material cost + indirect production expense + administrative expense = (5000…
Q: Arden Company reported the following costs and expenses for the most recent month: Direct materials…
A: Product costs: Product costs are the costs that are incurred by the company to manufacture a product…
Q: Learned Corporation has provided the following information: Cost per Unit Cost per Period Direct…
A: The direct costs are the cost that are directly related to production of a specific product and…
6. The following cost relate to XYZ Corp for the year:
Sales commission expenses P 185,000
Direct materials 215,000
Conversion cost 435,000
Factory
What is the TOTAL MANUFACTURING (PRODUCT) COSTS?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Cost Classification Loring Company incurred the following costs last year: Required: 1. Classify each of the costs using the following table format. Be sure to total the amounts in each column. Example: Direct materials, 216,000. 2. What was the total product cost for last year? 3. What was the total period cost for last year? 4. If 30,000 units were produced last year, what was the unit product cost?Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?
- The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?8. The following cost relate to XYZ Corp for the year:Sales commission expenses P 185,000Direct materials 215,000Conversion cost 435,000Factory overhead 190,000 (40% of which is fixed)What is the TOTAL PERIOD COSTS?10. The following cost relate to XYZ Corp for the year:Sales commission expenses P 185,000Direct materials 215,000Conversion cost 435,000Factory overhead 190,000 (40% of which is fixed)What is the TOTAL VARIABLE MANUFACTURING COSTS?
- 7. The following cost relate to XYZ Corp for the year: Sales commission expenses P 185,000 Direct materials 215,000 Conversion cost 435,000 Factory overhead 190,000 (40% of which is fixed) What is the TOTAL LABOR COSTS? 8. The following cost relate to XYZ Corp for the year: Sales commission expenses P 185,000 Direct materials 215,000 Conversion cost 435,000 Factory overhead 190,000 (40% of which is fixed) What is the TOTAL PERIOD COSTS?Dobosh Corporation has provided the following information: Cost per Unit $ 7.65 $ 4.25 $ 2.20 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling andadministrative expense $ 2.10 $ 1.15 Cost per Period $ 132,600 Required: a. For financial reporting purposes, what is the total amount of product costs incurred to make 9,240 units? b. For financial reporting purposes, what is the total amount of period costs incurred to sell 9,240 units? c. If 10,000 units are sold, what is the variable cost per unit sold? Note: Round "Per unit" answer to 2 decimal places. d. If 10,240 units are sold, what is the total amount of variable costs related to the units sold? a. Total product cost b. Total period cost c. Variable cost per unit sold d. Total variable costs $ 51,450 e. If 10,240 units are produced, what is the total amount of manufacturing overhead cost incurred? f. If the selling price is…9. The following cost relate to XYZ Corp for the year: Sales commission expenses P 185,000 Direct materials 215,000 Conversion cost 435,000 Factory overhead 190,000 (40% of which is fixed) What is the TOTAL PRIME COSTS? 10. The following cost relate to XYZ Corp for the year: Sales commission expenses P 185,000 Direct materials 215,000 Conversion cost 435,000 Factory overhead 190,000 (40% of which is fixed) What is the TOTAL VARIABLE MANUFACTURING COSTS?
- The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct materials Manufacturing overhead Selling and administrative expense 1. What is Antonio's prime cost for last quarter? a. P 460,000 b. P 410,000 c. P 405,000 d. P 375,000 P 435,000 215,000 190,000 185,000Asplund Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost per Unit $ 6.95 Cost per Period $ 3.60 $ 2.00 $ 20,800 $ 1.50 $ 0.45 $ 8,900 Required: a. For financial reporting purposes, what is the total amount of product costs incurred to make 5,280 units? b. For financial reporting purposes, what is the total amount of period costs incurred to sell 5,280 units? a. Total product cost b. Total period costThe following information were obtained from the records of HILO Company: Production in units 8, 000 Manufacturing costs: Direct Materials P5 per unit Direct labor 3 per unit Variable overhead 1 per unit Fixed overhead total 100, 000 Sales price 40 per unit The operating profit under absorption costing is P30, 000 and the unit sales is 5,000. Questions: a. What is the amount profit/(loss) under absorption costing? (profit/loss) b. What is the total period expense recognized by the company if it used variable costing system? c. What is the total period costs under absorption costing ?
