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Socrates is a manufacturing company that makes small household appliances such as toastars and air fryers. The following manufacturing costs and expenses were incurred during
Socrates is a manufacturing company that makes small household appliances such as toastars and air fryers. The following manufacturing costs and expenses were incurred during the month of September. The total WIP at the beginning of the month was $30,000. WIP at the end of the month was 550,000 Required: a) for each of the costs below, classify the cost as either: Direct Material, Direct Labour, Manufacturinis Overhead, or a Period cost. 1. Wages of $220,000 for assembly line workers are 2. Raw materials of $30,000 used directly in produc 3. Depreciation of $5,000 on factory equipment are 4. Rent of $24,0000 n factory building are 5. The office secretary's wages of $30,000 are 6. Insurance of $3,000 on office building 7. Power and water expenses of $7,000 for the factory are 8. Wages of $20,000 for janitor factory workers 9. Indirect materials of $45,000 used in production are 10. The sales manager's satary of $80,000 are What is the total Direct Materials cost for the month of September? (Do not enter any symbols, e.g. $. if you answer is $1.000 enter it as 1000 . Also round your calculations to two decimal places, e.g. 0.00) Answer: What is the total Direct Labour cost for the month of September? (Do not enter any symbols, e.g. $, If you answer is $1,000 enter it as 1000 . Also round your calculations to two decimal places, e.g. 0.00) Answer: What is the total Manufacturing Overhead cost for the month of September? (Do not enter any symbols, e.g. 5 . If you answer is $1.000 enter it as 1000 . Also round your calculations to two decimal places, e.g. 0.00)
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