$ 12,865 The Fiberglass Boat Company reported the following costs and expenses in May 2021: Factory...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
$ 12,865 The Fiberglass Boat Company reported the following costs and expenses in May 2021: Factory utilities Direct labor $209,860 Depreciation on factory Sales staff salaries 134,520 equipment 6,110 Depreciation on delivery trucks 1,855 Property taxes on factory building 4,800 Indirect factory labor 31,915 Repairs to office equipment 435 Indirect materials 17,570 Factory repairs 13.025 Direct materials used 252,975 Advertising 6,200 Factory manager's salary 45,000 Office supplies used 2.363 Instructions 1. Set up and complete a schedule as shown in the example below, listing each item above, including its dollar amount, under the proper classification heading. 2. Total each classification to show the total of all costs and expenses under each one. Cost and Expense Description Factory Utilities Manufacturing Overhead Product Cost Period Cost $12,865 $ 12,865 The Fiberglass Boat Company reported the following costs and expenses in May 2021: Factory utilities Direct labor $209,860 Depreciation on factory Sales staff salaries 134,520 equipment 6,110 Depreciation on delivery trucks 1,855 Property taxes on factory building 4,800 Indirect factory labor 31,915 Repairs to office equipment 435 Indirect materials 17,570 Factory repairs 13.025 Direct materials used 252,975 Advertising 6,200 Factory manager's salary 45,000 Office supplies used 2.363 Instructions 1. Set up and complete a schedule as shown in the example below, listing each item above, including its dollar amount, under the proper classification heading. 2. Total each classification to show the total of all costs and expenses under each one. Cost and Expense Description Factory Utilities Manufacturing Overhead Product Cost Period Cost $12,865
Expert Answer:
Answer rating: 100% (QA)
Answer Cost and Expense Description Manufacturing Overhead Product ... View the full answer
Posted Date:
Students also viewed these accounting questions
-
Construct an analytic function of the form f (z) = u + iv, where v is tan- (y/x), x # 0, y # 0
-
Graph the exponential equation. Then state the inverse function in logarithmic form and graph it. Then state the domain and range of each function. = ()* = to Domain: Range: Inverse: Domain: Range:...
-
What is electronic training? List some of its components and its uses.
-
Identify a possible cause of each of the following in the country where you live: a. A negative supply shock b. A positive supply shock c. A decrease in aggregate demand d. An increase in aggregate...
-
Two rectangular plates of sizes \(L\) and \(W\) are facing each other and separated by a distance \(H\). Derive an expression for the view factor between these disks. Find the limit if \(W\) is...
-
The following facts relate to McKane Corporation. 1. Deferred tax liability, January 1, 2010, $60,000. 2. Deferred tax asset, January 1, 2010, $20,000. 3. Taxable income for 2010, $115,000. 4....
-
Consider a 10 year bond with face value $1,000, pays 6% coupon annually and has a yield-to-maturity of 7%. How much would the approximate percentage change in the price of bond if interest rate in...
-
Individuals, like corporations, can use financial ratios to analyze and monitor their performance. Typically, personal finance ratios are calculated using the personal income and expense statement...
-
Think back to meeting Justin Jones from Module 5. He was admitted after a motorcycle accident. He had surgery for fracture reduction on his legs and now has casts on both legs and one arm. For the...
-
What is asymmetric information? What kinds of problems it will raise? Think of one example in which you have had to deal with these problems.
-
What techniques are employed to prioritize actionable insights amidst a plethora of data points and information streams ?
-
A liability account with a normal credit balance describes the Select answer from the options below Owner's Equity account. Prepaid Rent account. Drawings account. Unearned Revenue account.
-
A firm paid its last dividends OMR 0.200. The firm grows at 8% constantly. Calculate the dividend payment for year 1, 2, 3, 4 and 5. Muscat International (MI) declared its last dividend OMR 0.500....
-
Divergent thinking is critically important to the growth of an organization yet individuals tend to be resistant to engaging in such behavior. Why is this case? Comment
-
A heat engine has a heat input of 3 Ã 104 Btu/h and a thermal efficiency of 40 percent. Calculate the power it will produce, in hp. Source 3 x 10 Btu/h 40% HE Sink
-
Many factors affect the economics of sport. What are some not discussed in the chapter? How do they affect financial management within the industry?
-
What is financial management? How does financial management differ in the sport industry as compared to other industries?
-
Which has the greater impact on financial management: the structure of a league or the structure of a team?
Study smarter with the SolutionInn App