Listed here are the costs associated with the production of 1,000 drum sets manufactured by TrueBeat....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Listed here are the costs associated with the production of 1,000 drum sets manufactured by TrueBeat. Costs 1. Plastic for casing-$18,000 2. Wages of assembly workers-$88, 000 3. Property taxes on factory-$5,000 4. Office accounting salaries-$39,000 5. Drum stands-$40,000 6. Rent cost of office for accountants-$12,e00 7. Office management salaries-$150,00e 8. Annual fee for factory maintenance-$21, e00 9. Sales commissions-$26,000 10. Factory machinery depreciation, straight-line-$45,e00 Problem 1-1A (Algo) Part 1 Required: 1. Classify each cost and its amount as either product or period. The first cost is completed as an example. Costs Product Period 1. Plastic for casing 2. Wages of assembly workers 3. Property taxes on factory 4. Office accounting salaries 5. Drum stands 6. Rent cost of office for accountants 7. Office management salaries 8. Annual fee for factory maintenance 9. Sales commissions 10. Factory machinery depreciation, straight-line 18,000 Required information Problem 1-1A (Algo) Classifying costs and computing cost per unit LO C2, P2 [The following information applies to the questions displayed below.] Listed here are the costs associated with the production of 1,000 drum sets manufactured by TrueBeat. Costs 1. Plastic for casing-$18, 000 2. Wages of assembly workers-$88,000 3. Property taxes on factory-$5,000 4. Office accounting salaries-$39,000 5. Drum stands-$40,000 6. Rent cost of office for accountants-$12,000 7. Office management salaries-$150,0ee 8. Annual fee for factory maintenance-$21,e00 9. Sales commissions-$26,e00 10. Factory machinery depreciation, straight-line-$45,000 Problem 1-1A (Algo) Part 2 2. Compute the average manufacturing cost per drum set. Calculation of Manufacturing Cost per Drum Set Manufacturing costs Total manufacturing costs Listed here are the costs associated with the production of 1,000 drum sets manufactured by TrueBeat. Costs 1. Plastic for casing-$18,000 2. Wages of assembly workers-$88, 000 3. Property taxes on factory-$5,000 4. Office accounting salaries-$39,000 5. Drum stands-$40,000 6. Rent cost of office for accountants-$12,e00 7. Office management salaries-$150,00e 8. Annual fee for factory maintenance-$21, e00 9. Sales commissions-$26,000 10. Factory machinery depreciation, straight-line-$45,e00 Problem 1-1A (Algo) Part 1 Required: 1. Classify each cost and its amount as either product or period. The first cost is completed as an example. Costs Product Period 1. Plastic for casing 2. Wages of assembly workers 3. Property taxes on factory 4. Office accounting salaries 5. Drum stands 6. Rent cost of office for accountants 7. Office management salaries 8. Annual fee for factory maintenance 9. Sales commissions 10. Factory machinery depreciation, straight-line 18,000 Required information Problem 1-1A (Algo) Classifying costs and computing cost per unit LO C2, P2 [The following information applies to the questions displayed below.] Listed here are the costs associated with the production of 1,000 drum sets manufactured by TrueBeat. Costs 1. Plastic for casing-$18, 000 2. Wages of assembly workers-$88,000 3. Property taxes on factory-$5,000 4. Office accounting salaries-$39,000 5. Drum stands-$40,000 6. Rent cost of office for accountants-$12,000 7. Office management salaries-$150,0ee 8. Annual fee for factory maintenance-$21,e00 9. Sales commissions-$26,e00 10. Factory machinery depreciation, straight-line-$45,000 Problem 1-1A (Algo) Part 2 2. Compute the average manufacturing cost per drum set. Calculation of Manufacturing Cost per Drum Set Manufacturing costs Total manufacturing costs
Expert Answer:
Answer rating: 100% (QA)
1 Costs Product Period 1 Plastic For Casing 18000 2 Wages of assembly workers 88000 3 Property ... View the full answer
Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078025655
7th edition
Authors: Thomas Edmonds, Christopher Edmonds, Bor-Yi Tsay, Philip Old
Posted Date:
Students also viewed these accounting questions
-
Listed here are the costs associated with the production of 18,000 Blu-ray discs (BDs) manufactured by Maxwell. Required 1. Classify each cost and its amount as either product or period. The first...
-
Listed here are the total costs associated with the production of 10,000 Blu-ray Discs (BDs) manufactured by New Age. The BDs sell for $15 each. Required 1. Classify each cost and its amount as (a)...
-
Listed here are the total costs associated with the 2009 production of 700 drum sets manufactured by Roland. The drum sets sell for $600 each. Required 1. Classify each cost and its amount as (a)...
-
Suppose you wanted to hasten the transition from a depletable fossil fuel to solar energy. Compare the effects of a per-unit tax on the depletable resource to an equivalent per-unit subsidy on solar...
-
Suppose the inflation rate in Canada, as measured by the CPI, has been averaging 3.5 percent in recent years. The most recent Bank of Canada announcement indicates that it expects 3-percent inflation...
-
Irvin Enterprises is considering the purchase of a new piece of equipment to replace the current equipment. The new equipment costs $75,000 and requires $5,000 in installation costs. It will be...
-
For an automobile moving along a highway, describe the control volume you would use to estimate the flowrate of air across the radiator. Explain how you would estimate the velocity of that air.
-
Refer to our development of Framecraft Companys master budget in this chapter. Suppose that because of a new customer in Canada, the company or management has decided to increase budgeted sales in...
-
Write a Javascript program to display the list of Student names whose name starts with 'A' For example, you have an array of students names Khadija Ali ahmed List of name starts with alphabet 'A' or...
-
Refer to the Racquetball Racket case. Review the problem statement and influence chart that were generated for this case in conjunction with the corresponding exercises in Chapter 2. (If this has not...
-
check the code is run properly or not init.py from flask import Flask, render_template, request, redirect, url_for from Forms import CreateUserForm, CreateCustomerForm import shelve, User, Customer...
-
A football is inflated in the locker room before the game. The air warms as it is pumped, so it enters the ball at a temperature of 27C. The ball is inflated to a gauge pressure of 13 psi. The ball...
-
A California geothermal power plant generates 4.3 MW by extracting 24 MW of heat from an underground source at 108C and then discharging waste heat into the 17C air. a. What is the actual efficiency...
-
Some runners train with parachutes that trail behind them to provide a large drag force. These parachutes are designed to have a large drag coefficient. One model expands to a square 1.8 m on a side,...
-
A nerve impulse is propagated across a synapse when the neurotransmitter acetylcholine is released from the pre-synaptic membrane and diffuses across the 20-nm-wide synaptic cleft to the...
-
Swordfish are capable of stunning output power for short bursts. A 650 kg swordfish has a cross-section area of 0.92 m 2 and a drag coefficient of 0.0091exceptionally low due to a number of...
-
On September 1, 2022, Sam purchased a new car for $30,000. Samwill make a down payment of $5,000 on September 1, 2022 and willmake the first payment at the same time. Sam will make 30 monthlypaymen 2...
-
What are the three kinds of research types? Explain each type.
-
The accountant for Ericas Dress Shop prepared the following cash budget. Ericas desires to maintain a cash cushion of $20,000 at the end of each month. Funds are assumed to be borrowed and repaid on...
-
Elsea Company, which produces and sells a small digital clock, bases its pricing strategy on a 25percent markup on total cost. Based on annual production costs for 25,000 units of product,...
-
How has the Institute of Management Accountants responded to the need for high standards of ethical conduct in the accounting profession?
-
The following information has been extracted from the recently published statements of company D, as set out in Figure 7.11. Figure 7.11 Financial statements for company D as at 30 April The ratios...
-
Under IFRS, an asset is something: A. Owned. B. Used. C. Owned and controlled. D. Controlled.
-
Which of the following costs related to a building is NOT usually treated as an expense but is added to the asset? A. Repairs. B. Redecoration. C. Fitting new safety equipment. D. Cleaning.
Study smarter with the SolutionInn App