Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

solve this Current Attempt In Progress Bell Company has been a retailer of audio systems for the past 3 years. However, after a thorough survey

solve this
image text in transcribed

Current Attempt In Progress Bell Company has been a retailer of audio systems for the past 3 years. However, after a thorough survey of audio system markets, Bell decided to turn its retail store into an audio equipment factory. Production began October 1, 2022. Direct materials costs for an audio system total $74 per unit. Workers on the production lines are paid $12 per hour. An audio system takes 5 labor hours to complete. In addition, the rent on the equipment used to assemble audio systems amounts to $4, 900 per month. Indirect materials cost $5 per system. A supervisor was hired to oversee production; her monthly salary is $3,000. Factory janitorial costs are $1,300 monthly. Advertising costs for the audio system will be $9,500 per month. The factory building depreciation is $7,800 per year. Property taxes on the factory building will be $9,000 per year. (a) Assuming that Bell manufactures, on average, 1,500 audio systems per month, enter each cost item on your answer sheet, placing the dollar amount per month under the appropriate headings. Total the dollar amounts in each of the columns. Direct Materials Product Costs Direct Labor Manufactu Overhea Cost Item Direct materials Wages for workers Rent on equ ipment Indirect materials Factory supervisor's salary Janitorial costs Advertising Depreciation on factory building Property taxes on factory building eTextbook and Media https://education.wilev.com/was/ui/v2/assessment-plaver/index.html?launchld=62893249-69a8-4c3c-bc84-dc6f9d41cf5a#/auestion/1 2/6124, 8:07 AM Homework Chapter 1 Question 2 of 4 (b) Question 2 of 4 - Homework Chapter 1 -/4 --/2 Compute the cost to produce one audio system. (Round answer to 2 decimal places, e.g. 15.25.) Production cost per system $

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

Horngrens Cost Accounting A Managerial Emphasis

Authors: Rajan Datar, Srikant M. Datar

16th Edition

9352860195, 978-9352860197

More Books

Students also viewed these Accounting questions

Question

Where is the position?

Answered: 1 week ago

Question

Why is it important to match sources and methods of recruitment?

Answered: 1 week ago