Teal Mountain Company has been a retailer of audio systems for the past 3 years. However,...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Teal Mountain Company has been a retailer of audio systems for the past 3 years. However, after a thorough survey of audio system markets, Teal Mountain decided to turn its retail store into an audio equipment factory. Production began October 1, 2022. Direct materials costs for an audio system total $77 per unit. Workers on the production lines are paid $13 per hour. An audio system takes 6 labor hours to complete. In addition, the rent on the equipment used to assemble audio systems amounts to $5,070 per month. Indirect materials cost $5 per system. A supervisor was hired to oversee production; her monthly salary is $3,700. Factory janitorial costs are $2,030 monthly. Advertising costs for the audio system will be $9,030 per month. The factory building depreciation is $6,360 per year. Property taxes on the factory building will be $8,520 per year. Assuming that Teal Mountain manufactures, on average, 1,400 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. Cost Item Direct materials Wages for workers Rent on equipment Indirect materials Factory supervisor's salary Janitorial costs Advertising Depreciation on factory building Property taxes on factory building eTextbook and Media $ Direct Materials Product Costs Direct Labor Compute the cost to produce one audio system. (Round answer to 2 decimal places, e.g. 15.25.) Production cost per system $ Manufacturing Overhead Teal Mountain Company has been a retailer of audio systems for the past 3 years. However, after a thorough survey of audio system markets, Teal Mountain decided to turn its retail store into an audio equipment factory. Production began October 1, 2022. Direct materials costs for an audio system total $77 per unit. Workers on the production lines are paid $13 per hour. An audio system takes 6 labor hours to complete. In addition, the rent on the equipment used to assemble audio systems amounts to $5,070 per month. Indirect materials cost $5 per system. A supervisor was hired to oversee production; her monthly salary is $3,700. Factory janitorial costs are $2,030 monthly. Advertising costs for the audio system will be $9,030 per month. The factory building depreciation is $6,360 per year. Property taxes on the factory building will be $8,520 per year. Assuming that Teal Mountain manufactures, on average, 1,400 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. Cost Item Direct materials Wages for workers Rent on equipment Indirect materials Factory supervisor's salary Janitorial costs Advertising Depreciation on factory building Property taxes on factory building eTextbook and Media $ Direct Materials Product Costs Direct Labor Compute the cost to produce one audio system. (Round answer to 2 decimal places, e.g. 15.25.) Production cost per system $ Manufacturing Overhead
Expert Answer:
Related Book For
Managerial Accounting Tools For Business Decision Making
ISBN: 9781119754053
9th Edition
Authors: Jerry J Weygandt, Paul D Kimmel, Jill E Mitchell
Posted Date:
Students also viewed these accounting questions
-
Conceptualize a tourism or hospitality establishment including its services. Make a short description of the tourism/ hospitality establishment and its services. Set either of the following...
-
1) Within the UW's Huskies football organization, Sabrina works as a football analyst. She believes that the outcome of the home January game against Oregon Ducks will be related to weather...
-
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...
-
Determine the reactions at the beam supports for the given loading when wO = 400 lb/ft. 300 lb/ft A. 5 ft
-
We have used little vertically oriented rectangles to compute areas. There is no reason why little horizontal rectangles cannot be used. Here are the steps to find the area under the curve y = f(x)...
-
(Equal principal payment loan) You took a 5-year, $100,000 loan. The loan has equal principal payments. The loan carries a 6% annual interest rate and is paid back in annual payments. a. What is the...
-
You purchase a window air conditioner for your apartment living room rated at \(1,000 \mathrm{~W}\). If you run the air conditioner for an average of 3 hours a day for a week, how much would it cost...
-
Hound Havens produces plastic doghouses as part of a continuous process through two departments: Molding and Finishing. Direct materials and conversion are added throughout the month in both...
-
Please need answers with steps asapY=x^2,x=0,y=4 about the line y=41)find the integral expressing the volume using the shell method2)find the integral expressing the volume using the washer method...
-
What kind of negotiations could help engage Indian employees and overcome some of the cultural problems encountered? How might culture play a role in the approach the Indian employees take in their...
-
A manufacturing company has decided to purchase equipment that has an initial cost of $267,000. The equipment will be used for 17 years, at which point it will have a salvage value of $32,040 The...
-
The following labor standards have been established for a particular product : Standard labor -hours per unit of output 1.7 hours Standard labor rate $14.05 per hour The following data pertain to...
-
The entries in a purchases journal are posted to the what is journal entry
-
You borrowed $15,000 today for 48 months at 12% per year to purchase a car. Calculate the monthly payment at the end of each month.
-
What methodologies can be implemented to mitigate potential ambiguities and ensure precision in technical business writing ?
-
please answer as soon as possible. thank you. 6. The current term-structure of risk-free rate is as follows. Term-structure in year 0 maturity (years) zero-rate ( per annum) 2.5 3.5 An investor...
-
Prove that if Σ an is absolutely convergent, then a. an
-
Drop a department: revised information (Learning Objective 4) Consider Knight Fashion from S8-5. Assume that the fixed expenses assigned to each department include only direct fixed costs of the...
-
Product mix decision: unlimited demand (Learning Objective S) StoreAll produces plastic storage bins for household storage needs. The company makes two sizes of bins: large (50 gallon) and regular...
-
Replace a department (Learning Objective 4) Consider Knight Fashion from S8-5. Assume once again that all fixed costs are unavoidable. If Knight Fashion drops one of the current departments, it plans...
Study smarter with the SolutionInn App