Homework Chp. 1 - Chapter 1's Homework Solutions Problem...

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Chapter 1’s Homework Solutions Problem 1-1A (a) Product Costs Cost Item Direct Materials Direct Labor Manufacturing Overhead Period Costs Maintenance Costs - Factory Bldg Factory Manager’s Salary Advertising for Helmets Sales Commissions Depreciation on Factory Building Rent on Factory Equipment Insurance on Factory Building Raw Materials (plastic, poly, etc) Utility Costs for Factory Supplies for General Office Wages of Assembly Line Workers Depreciation on Office Equipment Miscellaneous Materials (glue, thread, etc.) $20,000 00000 $20,000 $44,000 000,000 $44,000 $ 300 4,000 700 6,000 3,000 800 $2,000 $16,800 $10,000 3,000 200 500 00,000 $13,700 (b) Total production costs Direct materials $ 20,000 Direct labor 44,000 Manufacturing overhead 16,800 Total production cost $80,800 Production cost per helmet = $80,000/1,000 = $80.00 .
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PROBLEM 1-4A (a) CRUZ MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Year Ended DEC 31, 2005 Work in process, Jan 1, 2005. ....... $ 9,500 Direct materials Raw materials inventory, Jan 1, 2005. ......................... $ 47,000 Raw materials purchases. ...... 67,500 Total raw materials avail- able for use. ......................... 114,500 Less: Raw materials inventory, DEC 31, 2005. .......... 44,200 Direct materials used. ............ $ 70,300 Direct labor. ..................................... $145,100 Manufacturing overhead Plant manager’s salary. .......... 30,000 Factory utilities. ...................... 12,900 Indirect labor. .......................... 18,100 Factory machinery depreciation. ........................ 7,700 Factory property taxes. .......... 6,100 Factory insurance. .................. 7,400 Factory repairs. ....................... 800 Total manufacturing overhead. ...................... 83,000 Total manufacturing costs. .... $298,400
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This note was uploaded on 03/24/2008 for the course ACC 121 taught by Professor Ross during the Fall '07 term at Central Piedmont Community College.

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Homework Chp. 1 - Chapter 1's Homework Solutions Problem...

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