1. Thomas Delivery Service reports the following costs and expenses in July 2020.
3. Indirect materials$ 8,775Drivers' salaries$16,035
4. Depreciation on deliveryAdvertising1,600
5. equipment11,200Delivery equipment repairs300
6. Dispatcher'ssalary7,000Office supplies650
7. Property taxes on officeOffice utilities990
8. Building3,625Repairs on office equipment745
9. CEO's salary22,000
10. Gas and oil for delivery trucks2,200
12. Instructions
13. Determine the total amount of delivery service (product) costs
14. a.$25,535
15. b.$25,235
16. c.$11,500
17. d.$45,510

2 points

QUESTION 5

1. Thomas Delivery Service reports the following costs and expenses in July 2020.
3. Indirect materials$ 8,775Drivers' salaries$16,035
4. Depreciation on deliveryAdvertising1,600
5. equipment11,200Delivery equipment repairs300
6. Dispatcher'ssalary7,000Office supplies650
7. Property taxes on officeOffice utilities990
8. Building3,625Repairs on office equipment745
9. CEO's salary22,000
10. Gas and oil for delivery trucks2,200
12. Instructions
13. Determine the total amount of period costs.
15. a.$29,610
16. b.$24,250
17. c.$3,985
18. d.$25,985

2 points

QUESTION 6

1. James Corporation incurred the following costs while manufacturing its product.
3. Materials used in product$135,000Advertising expense$45,000
4. Depreciation on plant60,000Property taxes on plant19,000
5. Property taxes on store7,500Delivery expense21,000
6. Labor costs of assembly-line workers110,000Sales commissions35,000
7. Factory supplies used25,000Salaries paid to sales clerks50,000
9. Work-in-process inventory was $17,500 at January 1 and $14,000 at December 31. Finished
10. goods inventory was $60,500 at January 1 and $42,000 at December 31.
12. Instructions
13. Compute cost of goods manufactured.
15. a.$104,000
16. b.$371,000
17. c.$352,500
18. d.$366,500

2 points

QUESTION 7

1. James Corporation incurred the following costs while manufacturing its product.
3. Materials used in product$135,000Advertising expense$45,000
4. Depreciation on plant60,000Property taxes on plant19,000
5. Property taxes on store7,500Delivery expense21,000
6. Labor costs of assembly-line workers110,000Sales commissions35,000
7. Factory supplies used25,000Salaries paid to sales clerks50,000
9. Work-in-process inventory was $17,500 at January 1 and $14,000 at December 31. Finished
10. goods inventory was $60,500 at January 1 and $42,000 at December 31.
12. Instructions
13. Compute cost of goods sold.
15. a.$413,000
16. b.$352,500
17. c.$371,000
18. d.$102,500

2 points

QUESTION 8

1. The following information is available for Collins Company.
3. January 1, 20202020December 31, 2020
4. Raw materialsinventory$22,000$30,000
5. Work in process inventory20,30017,200
6. Finished goods inventory27,00029,000
7. Materialspurchased$170,000
8. Direct labor200,000
9. Manufacturing overhead183,000
10. Sales revenue875,000
12. Instructions
13. (a) Compute cost of goods manufactured.
15. a.$545,000
16. b.$162,000
17. c.$548,100
18. d.$875,000

2 points

QUESTION 9

1. The following information is available for Collins Company.
3. January 1, 20202020December 31, 2020
4. Raw materialsinventory$22,000$30,000
5. Work in process inventory20,30017,200
6. Finished goods inventory27,00029,000
7. Materialspurchased$170,000
8. Direct labor200,000
9. Manufacturing overhead183,000
10. Sales revenue875,000
12. Instructions
13. (a) Compute gross profit
15. a.$575,100
16. b.$546,100
17. c.328.900
18. d.$573,100

2 points

QUESTION 10

1. An analysis of the accounts of Markus Manufacturing reveals the following
2. manufacturing cost data for the month ended June 30, 2020.
4. InventoriesBeginningEnding
5. Raw materials$10,000$11,500
6. Work in process6,50013,000
7. Finished goods10,0006,000
9. Costs incurred: Raw materials purchases $64,000, direct labor $57,000, manufacturing overhead
10. $22,900. The specific overhead costs were: indirect labor $7,500, factory insurance
11. $4,000, machinery depreciation $5,000, machinery repairs $1,800, factory utilities $3,100,
12. miscellaneous factory costs $1,500. Assume that all raw materials used were direct materials.
14. Instructions
15. (a) Compute cost of goods manufactured.
17. a.$74,000
18. b.$22,900
19. c.$142,400
20. d.$135,900