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Practice Problems.pdf - COMM 305 Tutorials - Alexandria...

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COMM 305 Tutorials - AlexandriaWinter 2022Tutorial Problems NoticeHello everyone,The following tutorial problem document and all future documents are forpersonal use only (i.e. printing or downloading). Any redistribution orreproduction for reasons other than personal use (i.e. commercial use) is strictlyprohibited.Should you have any questions regarding the material/problems, please do nothesitate to contact me through Facebook. Due to the high volume of questions Ireceive, please be patient when sending me a message.I highly suggest you join my Facebook group (linked below) so that you can stayupdated on announcements and problem solutions. You may also use theFacebook group to ask your peers questions.Another great resource is the COMM 305 YouTube channel (also linked below)where you can find recorded tutorials from myself and the other COMM 305 tutors.The YouTube channel is a great place to find in-depth explanations of problemsas well as their solutions. I recommend that you watch the YouTube videos priorto the tutorials as this will give you the opportunity to ask questions and furtherdevelop your understanding of the chapter which is critical for doing well in thiscourse.I wish you all a great semester!Alexandria Di DonatoFacebook GroupYouTube Channel
COMM 305 Tutorials - AlexandriaWinter 2022Chapter 2 - Practice Problems1.Blueberry Company specializes in manufacturing fake Burberry Backpacks. Thecompany has enough orders to keep the factory production at 1000 backpacksper month. Blueberry’s monthly manufacturing cost and other expense data canbe seen below.Maintenance costs on factory building$ 2,400Factory managers salary5,000Advertising for backpacks11,200Sales commissions7,500Depreciation on factory building600Rent on factory equipment9,000Insurance on factory building3,000Raw materials (fake Burberry fabric, zippers, shoulder straps)18,000Utility cost for factory640Supplies for general office100Wages for assembly-line workers42,000Depreciation on office equipment290Miscellaneous materials (glue, thread, etc.)1,900Instructionsa.Classify each cost item as a Product Cost (DM, DL or MOH) or a Period Cost.b.Calculate the production cost for one backpack.2.A fire on the premises of VOSS Inc. destroyed most of its records.Below is an incomplete set of data for operations in 2020:Sales$ ?Raw Materials, beginning inventory9,700Purchases9,700Raw Materials, ending inventoryDirect Materials19,500Direct Labor27,800Factory Overhead7,000Manufacturing costs added during the yearWork in process, beginning inventory6,400Work in process, ending inventory3,700Cost of goods manufacturedFinished goods, beginning inventory2,000Finished goods, ending inventory????

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Term
Fall
Professor
HILAL
Tags
Cost Accounting, Eric Inc

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