The following cost data for the year just ended pertain to Sentiments, Incorporated, a greeting card...

 

 

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The following cost data for the year just ended pertain to Sentiments, Incorporated, a greeting card manufacturer: Direct material $ 2,200,000 Advertising expense 98,000 Depreciation on factory building 116,000 515,000 115,000 142,000 46,000 Direct labor: wages Cost of finished goods inventory at year-end Indirect labor: wages. Production supervisor's salary Service department costs* Direct labor: fringe benefits Indirect labor: fringe benefits Fringe benefits for production supervisor Total overtime premiums paid Cost of idle time: production employees Administrative costs Rental of office space for sales personnelt Sales commissions Product promotion costs 100,000 110,000 31,000 10,000 55,000 40,000 150,000 15,000 5,000 10,000 *All services are provided to manufacturing departments. Cost of idle time is an overhead item; it is not included in the direct-labor wages given above. *The rental of sales space was made necessary when the sales offices were converted to storage space for raw material. Required: 1. Compute each of the following costs for the year just ended: a. Total prime costs b. Total manufacturing overhead costs c. Total conversion costs d. Total product costs e. Total period costs The following cost data for the year just ended pertain to Sentiments, Incorporated, a greeting card manufacturer: Direct material $ 2,200,000 Advertising expense 98,000 Depreciation on factory building 116,000 515,000 115,000 142,000 46,000 Direct labor: wages Cost of finished goods inventory at year-end Indirect labor: wages. Production supervisor's salary Service department costs* Direct labor: fringe benefits Indirect labor: fringe benefits Fringe benefits for production supervisor Total overtime premiums paid Cost of idle time: production employees Administrative costs Rental of office space for sales personnelt Sales commissions Product promotion costs 100,000 110,000 31,000 10,000 55,000 40,000 150,000 15,000 5,000 10,000 *All services are provided to manufacturing departments. Cost of idle time is an overhead item; it is not included in the direct-labor wages given above. *The rental of sales space was made necessary when the sales offices were converted to storage space for raw material. Required: 1. Compute each of the following costs for the year just ended: a. Total prime costs b. Total manufacturing overhead costs c. Total conversion costs d. Total product costs e. Total period costs

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To compute the costs requested well need to understand each of the cost categories and then calculate them accordingly based on the provided data a To... View the full answer