Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3. h. total variable cost i. total fixed cost Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn

3. h. total variable cost
i. total fixed cost image text in transcribed
image text in transcribed
Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers, and shapes. Suzle's product will target two groups: day care centers in warm climates and home school programs. Her company is Jiffy Jet and costs for last month follow: Factory rent Company advertising Wages paid to assembly workers Depreciation for salesperson vehicles Screws Delities for factory Assembly supervisornolary Sandpaper President's nalary Plastic tubing Paint Sales comissione Tactory Insurance Depreciation on cutting machines Wagen paid to painters $ 3,170 2,010 30,300 2,190 520 820 3,560 135 5, 110 4,060 215 1,310 1,110 2,140 0.000 Assume that Suzie Whitson has decided to begin production of her outdoor children's toy, Required: 1 and 2. Identify each of the preceding costs as either a product or a period cost. If the cost is a product cost, decide whether it is for direct materials (OM), direct labor (DL), or manufacturing overhead (MOH) and also identify each of the preceding costs as variable or fixed cost 3. Determine the total cost for each of the following: Complete this question by entering your answers in the tabs below. Reg 1 and 2 Req3 Determine the total cost for each of the following: Direct Materials $ a. b $ 19 Direct Labor Manufacturing Overhead Prime Cost C 4,060 38,300 11,670 42,360 49,970 $ $ $ d. es Conversion Cost f. Total Product Cost $ Total Period Cost $ g 54,030 9,620 46,370 X 17,280 X h. Total Variable Cost $ Total Fixed Cost $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing and Assurance Services

Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws

6th edition

978-1259197109, 77632281, 77862341, 1259197107, 9780077632281, 978-0077862343

More Books

Students also viewed these Accounting questions

Question

3. Speak respectfully. Use the students name.

Answered: 1 week ago