Carmen Company reports the following costs and expenses in March.Factory utilities $ 18,600Direct labor 98,100Depreciation on factory equipment 14,445Sales salaries 46,400 Property taxes on factory building 2,500Depreciation on delivery trucks 9,600Indirect factory labor 48,900Repairs to office equipment 2,300Indirect materials 80,800 Factory repairs 2,000Direct materials used 137,600Advertising 18,000Factory manager’s salary 13,000 Office supplies used 5,370Instructions: From the information, determine the total amount of:(a) Manufacturing overhead.(b) Product costs.(c) Period costs.

Q: Classifying Costs The following is a manufacturing cost report of Marching Ants Inc. Evaluate and…

A: Total Manufacturing costs - it is the total expenses of all resources used in the process of making…

Q: The following transactions occured in April at Steve's Cabinets, a custom cabinet firm. 1. Purchased…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: Knight Company reports the following costs and expenses in May. Factory utilities $17,256…

A: Period cost refers to the cost other than product cost ie cost not related to production…

Q: Roderick Company reported the following costs and expenses in May.   Factory utilities P15,600…

A: Given that , Factory utilities                                                     15,600…

Q: Current Attempt in Progress Marin Company reports the following costs and expenses in May. Factory…

A: >Manufacturing Overhead is a part of product cost that has been incurred in the production…

Q: Koufax Materials Corporation produces plastic products for home appliances and electronics. The…

A: Cost accounting is widely used by cost accountants and management to determine the per-unit cost of…

Q: XYZ Company reports the following costs and expenses in May. Factory utilities OMR 15,600 89,100…

A: Product costs are those costs that are incurred for manufacture and production of the product. These…

Q: The following information is available for a firm:

A: Answer: 1. $85,000 2. $132,750 3. $119,900 4. $217,750 5. $252,650 6. $96,130 Explanation: 1. The…

Q: Tentacle Television Antenna Company provided the following manufacturing costs for the month of…

A: The following information is provided below : Direct labor cost $132,000 Direct material…

Q: Superman Company Superman Company has the following costs and expenses for the year ending December…

A: 1. The required Schedule of Cost of goods manufactured is shown below:

Q: The Putney Company reports the following information: Sales $76,500 Cost of direct materials used…

A: Product cost = All costs directly related to the product. Period cost = All the costs not included…

Q: Current Attempt in Progress Tamarisk Company reports the following costs and expenses in May.…

A: Product Cost and Period Cost: Product costs are  direct costs, which are  related to the production…

Q: The following is a list of manufacturing costs incurred by Eros Manufacturing Co. during April:…

A: 1. Factory overhead cost incurred = Indirect materials + Indirect labor + Utilities expense + Rent…

Q: Skysong Company reports the following costs and expenses in May. Factory utilities   $14,200…

A: Product Costs mean the costs incurred directly or indirectly related to the production of a product.…

Q: Roderick Company reported the following costs and expenses in May. Factory utilities Depreciation on…

A: Manufacturing overheads are the indirect cost incurred in the manufacturing of products. It is…

Q: Superior Manufacturing Company has the following cost and expense data for the year ending December…

A: Income Statement is an account prepared to calculate the net income from a business in a financial…

Q: Allure Company produces women’s clothing. During 2004, the company incurred the following costs:…

A: Cost of goods manufactured (COGM) refers to the statement which depicts the clear expenses involved…

Q: Larkspur Company reports the following costs and expenses in May. Factory utilities   $16,000…

A: Period costs mean costs other than the product costs. These costs are not incurred on the production…

Q: XYZ Company reports the following costs and expenses in May. Factory utilities Direct labor…

A: Product and period cost are two different things. Product cost is the cost which is related to the…

Q: 1) Determine the total amount of manufacturing overhead.  Manufacturing overhead $   2) Determine…

A: Manufacturing Overhead: Factory utilities $18,700 Depreciation on factory equipment 15,370…

Q: Use the following data to compute total manufacturing costs for the month: Sales commissions $11,400…

A: Total manufacturing costs of the product includes the costs which are incurred on the manufacturing.…

Q: Burnham Industries incurs the following costs for the month: Direct materials $2,000 Direct labor…

A: Prime cost = Direct materials + direct labor

Q: Sage Hill Company reports the following costs and expenses in May. Factory utilities   $13,600…

A: A. Manufacturing overhead = Factory utilities + Depreciation on factory equipment + Indirect factory…

Q: kysong Company reports the following costs and expenses in May. Factory utilities   $14,200…

A: Cost sheet is a method of allocating total cost into different categories. It helps to identify the…

Q: The following information is available from the cost records of a Company for the month of July,…

A:

Q: Koufax Materials Corporation produces plastic products for home appliances and electronics. The…

A: Income statement is a statement which shows the summary of all expenditure and revenue of the…

Q: he following cost data for the year just ended pertain to Sentiments, Inc., a greeting card…

A: 1a.

Q: Castillo Corporation, a manufacturer, reports costs for the year as follows: Direct Materials Used…

A: Cost is the amount that is incurred from buying a product or the amount used for the production of a…

Q: The following cost data for the year just ended pertain to Sentiments, Inc., a greeting card…

A: Solution: d)Computation of Total product costs as follows under:- Workings:- Cost of goods sold…

Q: Burnham industries incurs the following costs for the month:                   Direct materials…

A: Prime cost =Direct material +Direct labor

Q: Selected data for Lemon​ Grass, Inc. for the year are provided​ below:   Factory Utilities $2,100…

A: Manufacturing overhead includes the indirect costs incurred in the production process. It includes…

Q: Related Data of Clarisse Company: Direct materials                                        385,000…

A: Period costs are those costs which are related to particular period and which can not be allocated…

Q: Knight Company reports the following costs and expenses in May. Factory utilities $17,000 Direct…

A: Formulation-

Q: a. Total prime cost b. Total manfacturing overhead costs c. Total conversion costs

A: a.  Direct material            2,300,000  Direct labor: wages                500,000  Direct…

Q: The following events took place for Collins Manufacturing Company during March, the first month of…

A: Gross profit = Sales - Cost of goods sold Net Income = Gross profit - Total operating expenses Work…

Q: Larkspur Company reports the following costs and expenses in May. Factory utilities $16,000…

A: 1. Manufacturing Overheads - This includes cost incurred in preparation of product indirectly.   2.…

Q: Sheffield Company reports the following costs and expenses in May. Factory utilities   $16,300…

A: Formulas: Manufacturing overhead = Factory utilities+Depreciation on factory equipment+Indirect…

Q: Closet Links Clothing Company provided the following manufacturing costs for the month of June.…

A: Total variable costs changes with the level of activity. Total fixed costs remains same within the…

Q: Boris' Car Loft, Inc., began operations on January 1. It manufactures 10,000 automobiles and sold…

A: Product Costs: Product cost means the costs incurred directly or indirectly related to the…

Q: Flounder Company reports the following costs and expenses in May. Factory utilities $16,000 Direct…

A: Cost sheet is a method of allocating total cost into different categories such as direct material…

Q: The Company manufactures furniture at its New York factory. Some of its costs from the past year…

A: All costs are divided into the product cost and period costs, where product cost is further divided…

Q: e following report was prepared for evaluating the performance of the plant manager of Marching Ants…

A: Manufacturing Costs Manufacturing costs refer to the expenses incurred for producing its goods in a…

Q: Knight Company reports the following costs and expenses in May.   Factory utilities $17,256…

A: Product costs are those costs which are incurred for manufacturing of product and can be allocated…

Q: Use the following data to compute total factory overhead costs for the month: Sales commissions S…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Rapid Delivery Service reports the following costs and expenses in June 2010. Indirect materials $…

A: The costs incurred on the production are said to be product cost. Other expenses that are not…

Q: The following is a manufacturing cost report of Marching Ants Inc. Evaluate and correct this report.

A: Solution:- Computation and  evaluation report as follows:-

Q: The following information relates to Curried Away Hot Air Balloons, Inc.: Advertising Costs $ 17,200…

A: A cost sheet is a method of allocating total cost into different categories such as direct material…

Q: Country Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from…

A: The product cost includes the direct and indirect cost incurred on production of goods.