Problem 1. Classify the following costs incurred by Toyota Motor Company as direct materials, direct labor, factory overhead, or period costs: a. Wages paid to production workers b. Utilities in the administrative office c. Depreciation on machinery in plant d. Steel c. Accountant's salary f. Rent on factory building g. Rent on office equipment h. Wages paid to plant maintenance workers i. Utilities in the plant j. Maintenance on marketing office equipment Problem 2. The following information pertains to Doodle, Inc.: Direct materials purchases $ 62,400 Beginning direct materials 10,400 Factory overhead 58,400 Beginning work in process 10,600 Cost of goods manufactured 164,000 Ending finished goods 20,000 Gross margin 21,000 Selling and administrative expenses 7,000 Beginning finished goods 16,000 Ending work in process 8,000 Ending direct materials 12,400 Direct labor Direct materials used Net income (loss) Total manufacturing costs added Cost of goods sold Sales Required: Determine the following values: a. Net income b. Total manufacturing costs added c. Cost of goods sold d. Sales Direct materials used f. Direct labor e. Problem 3. as follows: Information from the records of the Fisher Enterprises for the month of March 2010 was Purchases of direct materials Indirect labor Direct labor Depreciation on machinery Sales Selling and administrative expenses Rent on factory building S 54.000 15,000 31,200 9,000 165,900 18,900 21,000 Inventories March 1, 2010 March 31, 2010 Direct materials $24,000 $26,100 Work in process 6,300 9,600 Finished goods 15,000 17,100 Required: a. Prepare a statement of cost of goods manufactured for the month of March. b. Prepare an income statement for the month of March. c. Determine prime and conversion costs