Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following cost data for the year just ended pertain to Heartstrings, Inc., a greeting card manufacturer: Service department costs * $ 100,000 Direct labor:
The following cost data for the year just ended pertain to Heartstrings, Inc., a greeting card manufacturer: |
Service department costs* | $ | 100,000 |
Direct labor: wages | 485,000 | |
Direct labor: fringe benefits | 96,000 | |
Indirect labor: fringe benefits | 31,000 | |
Fringe benefits for production supervisor | 10,000 | |
Total overtime premiums paid | 55,000 | |
Cost of idle time: production employees | 40,000 | |
Administrative costs | 150,000 | |
Rental of office space for sales personnel | 15,000 | |
Sales commissions | 6,000 | |
Product promotion costs | 10,000 | |
Direct material used | 2,100,000 | |
Advertising expense | 97,000 | |
Depreciation on factory building | 116,000 | |
Cost of finished-goods inventory at year-end | 115,000 | |
Indirect labor: wages | 141,000 | |
Production supervisors salary | $ | 46,000 |
COMPUTE EACH OF THE FOLLOWING: 1)TOTAL PRIME COSTS 2)TOTAL MANUFACTORIN OVERHEAD COSTS 3)TOTAL CONVERSION COSTS 4)TOTAL PRODUCT COSTS 5)TOTAL PERIOD COSTS |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started