The following cost data for the year just ended pertain to Sentiments, Inc., a greeting card...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following cost data for the year just ended pertain to Sentiments, Inc., a greeting card manufacturer Direct material $2,200,000 Advertising expense 99,000 Depreciation on factory building 116,000 Direct labor: wages 525,000 Cost of finished goods inventory at year-end 115,000 Indirect labor: wages 141,000 Production supervisor's salary 45,000 Service department costs* 100,000 Direct labor: fringe benefits 102,000 Indirect labor: fringe benefits 31,000 Fringe benefits for production supervisor 11,000 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 Product promotion costs "All services are provided to manufacturing departments 5,000 10,000 Cost of idle time is an overhead Item; it is not Included in the direct-labor wages given above. The rental of sales space was made necessary when the sales offices were converted to storage space for raw material. Problem 2-42 Part 1 Required: 1. Compute each of the following costs for the year just ended: a. Total prime costs b. Total manufacturing overhead costs c. Total conversion costs d Total product costs The following cost data for the year just ended pertain to Sentiments, Inc., a greeting card manufacturer Direct material $2,200,000 Advertising expense 99,000 Depreciation on factory building 116,000 Direct labor: wages 525,000 Cost of finished goods inventory at year-end 115,000 Indirect labor: wages 141,000 Production supervisor's salary 45,000 Service department costs* 100,000 Direct labor: fringe benefits 102,000 Indirect labor: fringe benefits 31,000 Fringe benefits for production supervisor 11,000 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 Product promotion costs "All services are provided to manufacturing departments 5,000 10,000 Cost of idle time is an overhead Item; it is not Included in the direct-labor wages given above. The rental of sales space was made necessary when the sales offices were converted to storage space for raw material. Problem 2-42 Part 1 Required: 1. Compute each of the following costs for the year just ended: a. Total prime costs b. Total manufacturing overhead costs c. Total conversion costs d Total product costs
Expert Answer:
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Step 2: The price of the put option (opt) 4. Does the binomial interest rate model shown below imply an upward-sloped, downward-sloped, or flat spot rate curve? (3pt) 0 1 2 0.5 0.05 0.5 0.05 0.5 0.05...
-
The velocity profile in fully developed laminar flow in a circular pipe of inner radius R = 7 cm, in m/s, is given by U (r) = 4 (172). Determine the average and maximum velocities in the pipe and the...
-
Fill in the missing values for this ANOVA summary table. If needed, round to 3 decimals. S.S. Treatment 2624.616 4 d.f. M.S. F Error TOTAL 7670.616 62
-
The stockholders' equity accounts of Whispering Company have the following balances on December 31, 2025. Common stock, $10 par, 304,000 shares issued and outstanding $3,040,000 Paid-in capital in...
-
Assume that Congress amended the tax law to limit the itemized deduction for charitable contributions to 5 percent (rather than 50 percent) of AGI. Discuss the incidence of the tax increase...
-
On July 1, 2018, Apache Company sold a parcel of undeveloped land to a construction company for $3,000,000. The book value of the land on Apache's books was $1,200,000. Terms of the sale required a...
-
The transactions below are for the business Consulting Services Ltd owned by Jere Duckin. The business began on 1 September 20x8 and has been operating for one month. The following transactions took...
-
Your client, Wyeth Leasing Company, is preparing a contract to lease a machine to Souvenirs Corporation for a period of 25 years. Wyeth has an investment cost of $421,087 in the machine, which has a...
-
Green Rock Corporation had the following transaction on: Oct .31: It declared cash dividend of $72,500 Dec. 15: It set date of record Jan. 25: Will pay dividend. a. Make the journal entries to record...
-
Shimmer Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2020. (Click the icon to view the additional information.) All...
-
In a production turning operation, the cylindrical workpiece is 441 mm long and 153 mm in diameter. Feed = 0.39 mm/rev, and depth of cut = 5 mm. What is the metal removal rate if the time to machine...
-
2. A binary tree is either empty or it is composed of a root element and two children, which are binary trees themselves. In Prolog we can represent an empty tree by the constant 'nil' and represent...
-
what is BENEFITS TO STARBUCKS in Starbucks Corporation _ Building a Sustainable Supply Chain article?
-
Rapidillo Tires is a multinational company with headquarters in Madrid. His sector of activity is fast mechanics. It currently has a staff of 850 workers, of whom around 100 are in the central...
-
Three charges (Q, Qz, Q3) are arranged as shown in the diagram: Q Q and Q are an equal distance (30 cm) from the origin. Q3 is located at (30cm, 30cm). Q-1C, Q-2C and Q3-4 C. Calculate the magnitude...
-
BAYES THEOREM 1. Every morning the coffee is prepared by the first employee who arrives. Karen comes first 20% of the time, Juan, and Julio 40% respectively. The probability of coffee being bitter if...
-
The swap spread is the difference between the swap rate and the equivalent-maturity Treasury bond yield. Explain why a widening swap spread may be a signal of deteriorating economic conditions. Plot...
-
Muriel Santelli had recently been appointed controller of the breakfast cereals division of a major food company. The division manager, Ram Krishnamurthi, was known as a hard-driving, intelligent,...
-
Western Power is considering the replacement of an old billing system with new software that should save $5,000 per year in net cash operating costs. The old system has zero disposal value, but it...
-
Toyland Company was one of the original producers of Transformers. An especially complex part of Sect-a-con needs special tools that are not useful for other products. These tools were purchased on...
Study smarter with the SolutionInn App