Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2015: Factory rent $ 37,700 Company advertising 25,500 Wages paid
Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2015:
Factory rent | $ | 37,700 | |
Company advertising | 25,500 | ||
Wages paid to seamstresses | 76,800 | ||
Depreciation on salespersons' vehicles | 30,600 | ||
Thread | 1,030 | ||
Utilities for factory | 24,700 | ||
Cutting room supervisor's salary | 30,300 | ||
Presidents salary | 76,500 | ||
Premium quality cotton material | 40,200 | ||
Buttons | 835 | ||
Factory insurance | 18,500 | ||
Depreciation on sewing machines | 7,400 | ||
Wages paid to cutters | 50,000 | ||
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.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started