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1. Compute each of the following costs for the year just ended: Required information [The following information applies to the questions displayed belowj The following
1. Compute each of the following costs for the year just ended:
Required information [The following information applies to the questions displayed belowj The following cost data for the year just ended pertain to Sentiments, Inc., a greeting card manufacturer: Direct material Advertising expense Depreciation on factory building Direct labor: wages Cost of finished goods inventory at year-end Indirect labor: wages Production supervisor's salary Service department costs Direct labor: fringe benefits Indirect labor: fringe benefits Fringe benefits for production supervisor Total overtime premiums paid Cost of idle time: production employees Administrative costs $2,100,000 98,000 117,000 510,000 115,000 141,000 45,000 100,000 89,000 31,000 11,000 55,000 40,000 150,000 15,000 5,000 10,000 Rental of office space for sales personnel Sales Comm1551ons Product promotion costs All services are provided to manufacturing departments SCost of idle time is an overhead item; it is not included in the direct-labor wages given above tThe rental of sales space was made necessary when the sales offices were converted to storage space for raw material Required 1. Compute each of the following costs for the year just ended: a. Total prime costs b. Total manufacturing overhead costs C. Total conversion costs d. Total product costs e. Total period costsStep by Step Solution
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