Question
Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2018: Factory rent $ 36,400 Company advertising 24,000 Wages paid
Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2018:
Factory rent | $ | 36,400 | |
Company advertising | 24,000 | ||
Wages paid to seamstresses | 75,500 | ||
Depreciation on salespersons' vehicles | 31,000 | ||
Thread | 1,140 | ||
Utilities for factory | 24,900 | ||
Cutting room supervisor's salary | 31,400 | ||
Presidents salary | 76,600 | ||
Premium quality cotton material | 41,600 | ||
Buttons | 775 | ||
Factory insurance | 18,800 | ||
Depreciation on sewing machines | 6,200 | ||
Wages paid to cutters | 51,200 | ||
Required: 1. Compute the cost of direct materials for Cotton White. 2. Compute the cost of direct labor for Cotton White. 3. Compute the cost of manufacturing overhead for Cotton White. 4. Compute the total manufacturing cost for Cotton White. 5. Compute the prime cost for Cotton White. 6. Compute the conversion cost for Cotton White. 7. Compute the total period cost for Cotton White.
Can you please help me with this problem? I missed several items shown below. I thought I used the correct items and formulas but clearly, I am doing something wrong.
Answer is complete but not entirely correct. 1. $ 2. 3. $ 4. Direct Materials Cost Direct Labor Cost Manufacturing Overhead Cost Total Manufacturing Cost Prime Cost Conversion Cost Total Period Cost 43,515 > $ 126,700 117,700 $ 287,915 $ 170,215 $ 244,400 X $ 131,600 5. 6. $ 7Step by Step Solution
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