Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

D YouTube https://jamboard g. Indirect labour in the factory Depreciation on factory equipment Sales commissions Sales salaries Advertising Depreciation on the headquarters building Salary of

image text in transcribedimage text in transcribedimage text in transcribed

D YouTube https://jamboard g. Indirect labour in the factory Depreciation on factory equipment Sales commissions Sales salaries Advertising Depreciation on the headquarters building Salary of the corporate receptionist Other administrative costs Salary of the factory receptionist Totals $ 2. What was the total product cost for last year? 3. What was the total period cost for last year? $ 4. If 30,000 units were produced last year, what was the unit product cost? Round your answer to the nearest cent. per unit All work saved. O C Type here to search 1. Classify each of the costs using the following table format. Be sure to total the amounts in each column. Example: Direct materials, $216,000. If an amount box de entry, leave it blank. Product Cost Period Cost Costs Direct Materials Direct Labour Manufacturing Selling Expense Overhead Administrative Expense Direct materials $216,000 Factory rent $ Direct labour 24,000 130,000 Factory utilities Supervision in the factory Indirect labour in the factory Depreciation on factory equipment Sales commissions Sales salaries Advertising Depreciation on the headquarters building Salary of the corporate receptionist Other administrative costs Salary of the factory receptionist Type here to search O EP C Cost Classification Loring Company incurred the following costs last year: Direct materials $216,000 Factory rent 24,000 Direct labour 130,000 Factory utilities 6,300 50,000 Supervision in the factory Indirect labour in the factory Depreciation on factory equipment 30,000 9,000 Sales commissions 32,000 Sales salaries 65,000 37,000 10,000 30,000 Advertising Depreciation on the headquarters building Salary of the corporate receptionist Other administrative costs Salary of the factory receptionist Required: 175,000 28,000 1. Classify each of the costs using the following table format. Be sure to total the amounts in each column. Example: Direct materials, $216,000. If an amount box does not require an . entry, leave it blank. Dende Cnet Darind net Type here to search O AOLO 4 ENG 4:16 PM 2021-01-22 10

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

Anti Audit Warfare

Authors: Business Management Daily

7th Edition

1540747182, 978-1540747181

More Books

Students also viewed these Accounting questions