E1-13 (Algo) Classifying and Calculating Cost [LO 1-4] Noteworthy, Inc., produces and sells small electronic keyboards. Assume that you have the following information about Noteworthy's costs for the most recent month. Depreciation on factory equipment Depreciation on CEO's company car Speakers used in the keyboard Production supervisor's salary Glue and screws used in the keyboards Wages of persons who install the speakers Cost to run an ad on local radio stations Utilities for the factory Required: 1. Calculate the total product cost for Noteworthy. 2. Calculate the prime cost for Noteworthy. 3. Calculate the manufacturing overhead for Noteworthy. 2,820 670 1,250 Personnel manager's salary 2,520 Wages of person who attaches legs to keyboards 1,990 4. Calculate the direct labor for Noteworthy. 5. Calculate the conversion cost for Noteworthy. 850 120 1. Total Product Cost 2. Prime Cost 1,300 2,360 260 6. Calculate the total variable cost (with number of units produced as the activity) for Noteworthy. 7. Calculate the total fixed cost (with number of units produced as the activity) for Noteworthy. 3. Manufacturing Overhead 4. Direct Labor Cost 5. Conversion Cost 6. Total Variable Cost 7. Total Fixed Cost