1. Indicate whether each of the following costs of a cabinet manufacturer would be classified as (a) Direct materials cost, (b) Direct labor cost, (c) Factory overhead cost, or (d) Period cost. 1. Plant manager's salary 2. Office administrative assistant's salary 3. Depreciation on factory equipment 4. Rent on office building, 5. Varieties of wood 6. Varnish for coating cabinets 7. Utilities cost on the factory 8. Cabinet assembly worker's salary 9. Advertising costs 10. Screws and glue used in assembly process P4 ACCT 1162 Contabilidad Gerencial Isid Ayuda 12 - A A A A E ALT XX A.A. - AaBbCcl AaBbcc AaBbCcD AaBL nfasis I Normal Subtitulo Texto e Fuente F Prrafo D.2 D. Thomas Ain, CPA PROBLEM III (20 puntos) Lucas Company reports the following costs and expenses in May. Factory utilities $ 16,500 Direct labor Depreciation Factory Equip 12,650 Sales salaries Sales Commissions 1,300 Property Taxes Factory Bldg. Depreciation on delivery trucks 3,800 Delivery Expenses Indirect factory labor 48,900 Repairs to office equipment Indirect materials 70,800 Factory repairs Direct materials used 157,600 Advertising Factory manager's salary 8,000 Office supplies used Instructions From the information, determine the total amount of (a) Manufacturing overhead (b) Product costs. (c) Period costs. Solution PROBLEM III (a) Total Manufacturing overhead (MOH) $ $79,100 51,400 1,200 1,000 600 2,000 23,000 2,040 (b) Total Product costs $ (c) Total Period costs $ httspalat B AABB AaBbc AaBbCc AABBC AaBbCcl AaBbCcl AaBbCcl Ho 1 Titulo 1 11 Titulo 2 Titulo 3 1 Titulo 4 Titulo 5 1 Titulo 6 I Titulo 7 sic Ree A Sele Estilos Ed PROBLEM IV (20 Puntos) The following information is available for Elias Company. January 1, 2019 2019 December 31 2019 Raw materials inventory $ 26,000 $30,000 Work in process inventory 13,500 22,200 Finished goods inventory 30,000 21,000 Materials purchased $150,000 Direct labor 220,000 Manufacturing overhead 180,000 Sales 900,000 Instructions: (a) Compute cost of goods manufactured. (b) Prepare a partial income statement through gross profit. Solution PROBLEM IV: (a) Compute Cost of Goods Manufactured Cost of Goods Manufactured Schedule $ $ WIP Beg Inv Direct Materials: RM Beg Inventory $ Add: Purchases of Materials Materials Available for Use $ Less: Ending Inventory Add: Direct Materials Used Direct labor MOH Total Manufacturing Costs Total Cost of Work-in-Process Less: WIP End Inventory Cost of Goods Manufactured (b) Prepare a partial income statement through gross profit $ I Partial Income Statement $ Sales Cost of Goods Sold Beg Inv Finished Goods Add: Cost of Goods Manufactured Cost of Available for Sale Less: End Iny Finished Goods Cost of Goods Sold Gross Profit $