Martinez Manufacturing Inc. showed the following costs for last month: Direct materials ...........$7,000 Direct labor .............. 3,000
Question:
Direct materials ...........$7,000
Direct labor .............. 3,000
Manufacturing overhead ......... 2,000
Selling expense ........... 8,000
Last month, 4,000 units were produced and sold.
Required:
1. Classify each of the costs as product cost or period cost.
2. What is total product cost for last month?
3. What is the unit product cost for last month?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
1 Direct materialsProduct cost Direct laborProduct cost Manufac...View the full answer
Answered By
Rustia Melrod
I am a retired teacher with 6 years of experience teaching various science subjects to high school students and undergraduate students. This background enables me to be able to help tutor students who are struggling with the science of business component of their education. Teaching difficult subjects has definitely taught me patience. There is no greater joy for me than to patiently guide a student to the correct answer. When a student has that "aha!" moment, all my efforts are worth it.
The Common Core standards are a useful yardstick for measuring how well students are doing. My students consistently met or exceeded the Common Core standards for science. I believe in working with each student's individual learning styles to help them understand the material. If students were struggling with a concept, I would figure out a different way to teach or apply that concept. I was voted Teacher of the Year six times in my career. I also won an award for Innovative Teaching Style at the 2011 National Teaching Conference.
4+ Reviews
10+ Question Solved
Related Book For 
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
Question Posted:
