The following cost data for the current year relate to Heartstrings Pty Ltd, a greetings card manufacturers
Question:
Required:
Calculate each of the following costs for the year:
1. Total prime costs.
2. Total manufacturing overhead costs.
3. Total conversation costs.
4. Total product costs (for external reporting purpose).
5. Total period costs.
Transcribed Image Text:
Service department costs' $ 50 000 Direct labour: wages 242 500 Direct labour: on-costs 47 500 Indirect labour: on-costs 15 000 On-costs for production supervisor 4500 Administrative costs 75 000 Rental of office space for sales personnel 7 500 Sales commissions 2 500 Product promotion costs 5 000 Direct material 1 050 000 Advertising expense 49 500 Depreciation on factory building 57 500 Cost of finished goods inventory at year end 57 500 Indirect labour: wages 70 000 Production supervisor's salary Total overtime premiums paid 22 500 27 500 Cost of idle time: production employees 20 000
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1 Total prime costs Direct material 1 050 000 Direct labour Wages 242 500 Labour oncosts 47 500 ...View the full answer
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Related Book For
Management Accounting
ISBN: 9781760421144
7th Edition
Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton
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