ANSWERS_Acct 611 Ch 2 Solutions

ANSWERS_Acct 611 Ch 2 Solutions - PROBLEM 2-37 1. a. Total...

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PROBLEM 2-37 1. a. Total prime costs: Direct material. .................................................. $ 1,050,00 0 Direct labor: Wages. ........................................................... 242,500 Fringe benefits. .............................................. 47,500 Total prime costs. .............................................. $ 1,340,00 0 b. Total manufacturing overhead: Depreciation on factory building. ........................ $ 57,500 Indirect labor: wages. ........................................ 70,000 Production supervisor's salary. ........................... 22,500 Service department costs. .................................. 50,000 Indirect labor: fringe benefits. ............................ 15,000 Fringe benefits for production supervisor. .......... 4,500 Total overtime premiums paid. ........................... 27,500 Cost of idle time: production employees. ............ 20,000 Total manufacturing overhead. ........................... $ 267,000 c. Total conversion costs: Direct labor ($242,500 + $47,500). ..................... $ 290,000 Manufacturing overhead. ................................... 267,000
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ANSWERS_Acct 611 Ch 2 Solutions - PROBLEM 2-37 1. a. Total...

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